• 8 minutes U.S. Shale Oil Debt: Deep the Denial
  • 13 minutes WTI @ $75.75, headed for $64 - 67
  • 16 minutes Trump vs. MbS
  • 7 hours Knoema: Crude Oil Price Forecast: 2018, 2019 and Long Term to 2030
  • 15 hours Nuclear Pact/Cold War: Moscow Wants U.S. To Explain Planned Exit From Arms Treaty
  • 15 hours Why I Think Natural Gas is the Logical Future of Energy
  • 3 hours Merkel Aims To Ward Off Diesel Car Ban In Germany
  • 14 hours A $2 Trillion Saudi Aramco IPO Keeps Getting Less Realistic
  • 8 hours Get on Those Bicycles to Save the World
  • 12 hours Iraq war and Possible Lies
  • 1 day Can “Renewables” Dent the World’s need for Electricity?
  • 1 day Satellite Moons to Replace Streetlamps?!
  • 1 day Closing the circle around Saudi Arabia: Where did Khashoggi disappear?
  • 22 hours Long-Awaited Slowdown in China Exports Still Isn’t Happening
  • 9 hours EU to Splash Billions on Battery Factories
  • 1 day Can the World Survive without Saudi Oil?
Alt Text

OPEC+ To Extend Its Oil Cooperation Agreement

According to Saudi Arabia’s energy…

Alt Text

The Implications Of A Fractured U.S., Saudi Alliance

With tensions between the United…

Editorial Dept

Editorial Dept

More Info

Trending Discussions

Global Energy Advisory 8th January 2016

Politics, Geopolitics & Conflict

This week, there is nothing more critical than the extension of the Sunni-Shiite conflict into a much more significant proxy war between Saudi Arabia and Iran. As many will have already noted, the outlook for oil prices in light of this is bearish because for the first time in decades, OPEC has no chance of coming together in a unified position and we cannot get past the supply glut for now. But on a conflict level, this proxy war indicates more than anything that things have spiraled out of control. We have noted in previous briefings that while the Shi'ite radical groups can largely be controlled by Iran, the Sunnis can be controlled by no one--they have no real master at this point, which makes them the more dangerous. Saudi Arabia is panicking because it cannot control its own monster, but also because it has run out of friends, with the Americans having largely cut them off, Russians applying immense pressure and Iran far too strong to go to war with in any other way than through proxy manners and venues.

This will add another grueling element to the already catastrophic Syrian conflict, which is one of the key venues for this proxy war--and also a topic that Oilprice will be covering in-depth in the coming weeks in its news section. The beheadings of key Shi'ite figures by the Saudis--after languishing in prison for about a decade--shows the Saudis weak hand in this conflict, and the Iranian response will be much stronger…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





Oilprice - The No. 1 Source for Oil & Energy News