Trade War

How will trade war, Iran sanctions and OPEC supply cuts shape Oil markets in 2019?

Average crude oil prices have trended upwards for four consecutive months in 2019. The perception of oil risk due to factors like increasing geopolitical tensions triggered by the drone attack on Saudi oil vessels, the end of waivers for US sanctions on Iranian crude exports, unrest in Venezuela and sustained production cuts from OPEC may have all contributed to these higher oil prices. U.S. Energy Information Administration (EIA) reported that Venezuela’s oil output fell to 830,000 barrels per day (bpd)...

Trade Wars – How will it play out for the GCC?

The fears of a trade war were looming large ever since Donald Trump took charge as the U.S president. In an attempt to revive domestic industries, the U.S president has decided to levy charges on imports of steel and aluminum, signaling a potential trade war. After taking nearly a decade to bring back the optimism to the world economy post-financial crisis, the development of a trade war could become a deterrent to global growth. Trade wars are an unfavorable outcome...