The energy crisis continues in Europe, which is dependent on Russian oil and natural gas. The ongoing Ukraine-Russia conflict has sent energy and food prices skyrocketing in Europe. Even if governments slash fuel taxes and allocate funds, it is not enough for those whose livelihoods depend on fuel. The workers and truckers are taking to the streets. The demonstrations at ...
Contrary to what many believe, the Gulf states are probably the biggest loser of the war in Ukraine. Some observers believe that the sanctions imposed by the West on Russian oil and gases, which cause an energy crisis and a dramatic rise in hydrocarbon prices, could benefit the Gulf states. Sanctions on Russia, the world’s second-largest oil producer and the ...
In his State of the Union speech on March 1st, the US President Biden has evaluated the Russian invasion of Ukraine as an attempt to “shake the very foundations of the free world.” And as the leader of this “free world”, Biden responded by attempting to exclude the Russian Federation from the whole international system. Sanctions, freezing of assets, closure ...
Supply and demand are the two central elements of price stability in the global energy market. Moreover, the rate of economic growth of major energy-consuming countries such as China and India also plays an important role in market stability. In addition to these two main components, geopolitical events in major energy producing areas or along energy transit routes are also ...
The International Monetary Fund recently warned that the fortunes of the Gulf countries might disappear within 15 years given the decline in global demand for oil and low prices. This warning, mentioned in a study by the International Corporation on “the future of oil and financial sustainability” is a shock that could drive these countries to accelerate their reforms and ...