The OPEC+ meeting that took place on December 5, 2024, did not lead to a master plan in order to address the pressing needs of its members. Nor did it boldly declare that the measures that they adopted would achieve their most cherished goal, ‘stabilizing’ the markets, the code word of the OPEC +for an increase in the price of oil. The cartel put on a unified front by declaring that members promised to adhere to the individual quota of each. In this context, the assessment procedures by the third parties have been pushed back until November, 2026; this had been a highly contentious issue ..read more

Unlike his charismatic father, the eye-doctor-turned, current Syrian leader, Bashar al Assad, has been very unfortunate, when it comes to holding his country with a rich history in the realm of civilization, together, for well over a decade. It became a playing field for numerous actors on his watch to sow seeds of individual vested interests, in the aftermath of civil unrest that followed the Arab Spring. The US, Iran, Russia and Turkey are all in it, vying for holding on to their own sphere of influence. A coalition of rebel groups launched a major offensive on 28 November, 2024, by coinci ..read more

  The meeting of the members of the OPEC+, scheduled to be held on December 1, had been postponed at the eleventh hour, citing the participation of some members at the GCC, Gulf Corporation Council that was held on the same day in Kuwait. The next meeting, along with that of the JMMC, Joint Ministerial Monitoring Committee, will be held on December, 5, according to the OPEC+. The OPEC+ is supposed to outline their next move with regard to easing of the production cuts; OPEC+, a few months ago, said it would take place in December, having postponed in light of falling oil prices, on two ..read more

  The IEA, International Energy Agency, put a damper on the recovery of oil prices again with the release of the latest report on the demand in the commodity. In its latest report, released in October, the IEA says the oil demand is poised to grow by approximately 890,000 barrels per day (kb/d) in 2024 and just under 1 million barrels per day in 2025, marking a significant deceleration from the 2 million barrels per day, observed post the 2022-2023 period. Data Credit: IEA, International Energy Agency China's influence on this growth wanes, contributing about 20% of the gl ..read more

  Iranians elected a new president on Friday in a run-off election, who has pledged to take the country out of international isolation while promising women more rights that include relaxing the strict dress code - the compulsory hijab-wearing in public. Dr Masoud Pezeshkian, the president elect, aged 69, is a former heart surgeon, who had been a minister of health before, in a reformist government from 2001 to 2005. In the first round of the presidential election that was held on June 28 due to the unexpected death of the former president, Ibrahim Raisi, in a helicopter crash, Dr Pe ..read more

  A tense standoff between Israel and Hezbollah has concluded with a brokered ceasefire. The deal, facilitated by the US, France, and Lebanon, marks a significant de-escalation in the volatility in the Middle East. Israeli Prime Minister Benjamin Netanyahu, under immense pressure from the US, reluctantly agreed to the ceasefire. Reports suggest the US threatened to withhold vital military aid if Israel did not engage in a diplomatic solution.  Despite the incoming pro-Israel Trump administration, Netanyahu opted to avoid further strain on the US relationship, particularly given th ..read more

  Russia's unprecedented attack on Ukraine in the early hours on Thursday left the peace-loving world in a state of shock again, as there was a hope that an amicable solution could be found to the war with the incoming US administration in January next year. It was the first time an intermediate-range hypersonic missile had been used in combat ever in a war: at first, even the US was not sure what it really was; it was President Zelensky of Ukraine, who speculated its nature, referring to its altitude and speed; a grainy video footage showed the missiles hitting four targets simultaneo ..read more

Following a sweeping victory in the presidential election and securing full control of Congress, President Trump is gearing up for his second term. The Republican Party, also known as the GOP, has clinched the majority in the Senate and reached the pivotal 218 seats in the House of Representatives, giving President Trump significant political clout to implement his policies. Cabinet and Key Appointments: Secretary of State: Marco Rubio, a Senator from Florida, indicating a focus on foreign policy with a hardline stance. Defense Secretary: Pete Hegseth, a 44-year-old military veteran and Fox ..read more

  The price of crude oil keeps falling as President Trump selects his top team, reinforcing the belief in the energy markets that there is enough oil in stock at present. As of 13:20 GMT on Wednesday, the prices of WTI and Brent were at $67.34 and $71.02 respectively. The gloomy market sentiments have been exacerbated by the concerns over the diminished demand in China, the world's largest importer of the commodity. Although China's manufacturing PMI, a key indicator that reflects Chinese manufacturing activity,  was above the threshold, 50%, in October, it has not been a catalys ..read more

  With the comfortable victory over his rival, Kamala Harris, President Trump will certainly pursue his radical energy policies in order to deal with the crises in the energy sector, while sticking to his, 'Drill baby drill' policy. In anticipation of a supply boost in the near future, the oil markets reacted to his reelection that defied both pundits and pollsters; the price of crude oil went down by a moderate margin. As of 12:05 GMT on Thursday, the prices of WTI and Brent were at $70.45 and $74.84 respectively. The price of LNG, liquified natural gas, was at $2.75. In his last fe ..read more