Tag: Oil Policy

  • What to Make of Saudi Arabia’s Recent Shift in its Output Policy?

    By: Bassam Fattouh , Andreas Economou

    After a sharp rise in April/May this year, which saw Brent trading at above $80/barrel for several days, the upward pressure on the oil price eased in July with the Brent structure flipping into contango. This may have come as a surprise to many analysts who were expecting oil prices to continue on their upward […]

  • Economic Diversification in the Context of Peak Oil and the Energy Transition

    By: Bassam Fattouh , Anupama Sen

    Economic diversification has been a key developmental goal for the Middle East and North Africa (MENA) oil producers for decades as evidenced in their various national development plans. Some countries have made progress over the last few decades in diversifying their economic base and their sources of income. But despite these efforts, most indicators of […]

  • OPEC’s Hard Choices

    By: Bassam Fattouh

    Oil market sentiment has shifted considerably over the last few weeks. Brent is trading above $60 per barrel, the major benchmarks are in backwardation, stocks have been falling towards the five-year average, global oil demand remains strong, financial positioning is at record length, OPEC and non-OPEC compliance has been high, the additional Nigerian and Libyan […]

  • The Image of GCC Oil Policy in the Western Media

    By: Bassam Fattouh

    This short comment discusses how oil policy in the Arab world is often perceived by some parts of the western media, focusing on media coverage over the latest oil price cycle. An abridged version of this comment was presented at the 2nd GCC Petroleum Media Forum (Riyadh, Saudi Arabia, 22-24 March 2015).

  • Saudi Arabia’s Oil Policy in Uncertain Times – A Shift in Paradigm?

    By: Bassam Fattouh

    The sharp fall in oil prices in the last few weeks has turned the world’s attention to OPEC and particularly to Saudi Arabia’s response to the current slide in the oil price. Following unofficial communications to the market that Saudi Arabia is comfortable with markedly lower oil prices, even for an extended period,  hopes that […]

  • The New Governance of Venezuelan Oil

    By: B. Mommer

    Since 1989 Venezuela has been developing a new oil policy, known as Politica Petrolera de Apertura (Oil Opening Policy), or Apertura Petrolera for short. With Apertura Petrolera the Venezuelan oil sector, nationalised in 1976, has been re-opened to private investors. Inviting private investors back may itself be considered a historic voIte-face in Venezuelan oil politics, […]

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