Things have been quite active in the Eastern Mediterranean lately, with Israel, Cyprus and Greece pushing forward for the realization of the EastMed pipeline, a new gas conduit destined to diversify Europe’s natural gas sources and find a long-term reliable market outlet for all the recent Mediterranean gas discoveries. The three sides have reached an…
The US dollar currently makes up 2/3rds of the worlds global reserve currency. This is because nearly every oil-exporting country in the world exclusively sells their oil in US dollars (the Petrodollar), so nations are forced to hoard large amounts of US dollars, allowing the US to print it almost to infinity without hyper-inflating their currency. The…
The numbers speak for themselves. 746,000 New Energy passenger cars were sold in China between January and October. By the end of 2018, all buses and taxis in the vital tech hub city of Shenzen will be electric. The central borough of the city of Dalian is expected to reach this benchmark by 2020. Chinese…
OPEC has been dominating the oil market since its inception in 1960. Together, the members possess approximately 82 percent of global conventional oil reserves and produce 32.6 million barrels per day. Technological developments such as fracking and the cartel’s decreasing share of global production have eroded the organization’s influence. The flexibility and speed with which…
Earlier this week, Iranian President Hassan Rouhani repeated an earlier threat to block ships from leaving the Persian Gulf if the U.S. government continues to seek to block Iranian oil exports. Rouhani’s comments came a day after the U.S. sent an aircraft carrier to the Persian Gulf on Monday in an apparent “show of force,”…
To cut and push up prices or not to cut and preserve market share, this is the question that Saudi Arabia is facing ahead of this year’s December OPEC meeting. It seems like just yesterday when OPEC met in 2016 and decided to cut production by 1.8 million barrels daily, including from Russia, to reverse…
