OPEC+: Not a mega cut

Today’s OPEC+ meeting confirmed several things.  They prefer to boost revenues prices in the face of weak demand.  OPEC has little interest in making it easy for the G7 to implement the price cap.  There was a need to reset targets to (partly) adjust for massive under production from many producers producers are concerned about… Continue reading OPEC+: Not a mega cut

Iran’s Economy, Sanctions and key Scenarios

On October 7, I was pleased to join the Middle East Institute and Amwaj Media for a discussion about Iran's economy under sanctions and the trend ahead. The discussion coincided with stalled nuclear talks, as maximum pressure sanctions remain mostly in effect, Iran has built up additional nuclear capabilities. Read on or watch the video… Continue reading Iran’s Economy, Sanctions and key Scenarios

OPEC Standoff: Resetting market share

This piece first appeared on the Low Insitute's Interpreter in early July 2021 and concerns the divides between oil exporting nations which are being amplified by the energy transition and uneven recovery. The 1 July OPEC meeting ended in deadlock. Although all the major oil producers agreed in principle to collectively boost production by 400,000… Continue reading OPEC Standoff: Resetting market share

Iran Sanctions: Sell the Fact? What to Watch for on EU, China and Upcoming Energy Measures

Today, the U.S. provided more details on the reimposition of selected financial sanctions, clarifying decisions taken by virtue its repudiation of the JCPOA some months ago. Formally the sanctions, which come into effect today,  include measures limiting Iranian access to USD, precious metals including gold, restriction on the auto trade, industry and shipping. The updated… Continue reading Iran Sanctions: Sell the Fact? What to Watch for on EU, China and Upcoming Energy Measures

OPEC Compromise: Can Kicking Buys Time for Sanctions Rollout and Demand

Last week, OPEC+ ministers managed to come to a consensus after days of contentious discussions in Vienna, achieving the goal of formally keeping the OPEC+ alliance together, but failing to solve some of the thorny issues between key members including Saudi Arabia and Iran. The final agreement, which commits the group to reversing recent overcompliance… Continue reading OPEC Compromise: Can Kicking Buys Time for Sanctions Rollout and Demand

Iran and risks to the Sanctions Regime

I've been spending a lot of time (maybe too much time) in the last few weeks thinking about the Iran deal and economic and political impact of the U.S. exit.  I'm not alone, judging by the sheer number of quickly organized JCPOA exit panels in D.C. last week. If people seemed insufficiently worried about the… Continue reading Iran and risks to the Sanctions Regime