Iraq's OPEC+ Ultimatum: Push for Higher Quotas Signals Next Cartel Crisis

Bloomberg reports that Iraq has issued an ultimatum to OPEC+, demanding a higher export quota to boost revenue and stabilize its fragile economy.  According to the Iraqi oil minister, while Baghdad intends to remain within the alliance for now, it urgently needs a quota increase to fund critical dom…

Read more »

The Key Driver Behind the US-Iran MoU: Plunging Strategic Petroleum Reserves(SPR)

During a G7 summit press conference in Évian-les-Bains, France, President Trump disclosed that a combination of rapidly depleting Strategic Petroleum Reserves ( SPR ) and the imminent threat of a global depression forced his hand in signing a Memorandum of Understanding ( Mo U) with Iran. The US SPR has…

Read more »

Oil Prices Plummet 5% Following Surprise US-Iran Geneva Peace Accord

While some media outlets have hailed the US-Iran Framework Agreement as a major breakthrough, critics on both sides argue that the devil remains in the details.  According to these critics, this is neither an ironclad treaty nor a durable path to permanent peace between the long-time rivals, let alo…

Read more »

Drone Clash Sparks Chaos: US Bombards Iran as Strait of Hormuz Explodes into Violence

The expiration of a 60-day US-Iran ceasefire instantly gave way to open conflict following a high-stakes clash in the volatile Strait of Hormuz. A US Apache helicopter went down after colliding with an Iranian drone. While Washington insists the chopper was shot down, Tehran initially denied the cl…

Read more »

As the Strait Chokes, Asia Bleeds: The Massive Toll of a Distant Oil Crisis

The price of oil surged by 3% to 5% mid-week as a military stand-off between the United States and Iran led to a fresh flare-up despite an existing temporary ceasefire. Prices for the main benchmarks, West Texas Intermediate and Brent, had been on a downward trajectory since the previous week.  This…

Read more »