The oil price has risen 70% in the last 12 months, from 45$/ barrel for Brent in June 2017 to around 80$ in May 2018. Thus, after three years of low prices, crude has returned to levels not seen since the end of 2014. What are the forces behind this increase in oil price? Could it damage the world economy?
Near-dated crude oil prices have rallied on robust demand and falling inventories, but long-dated prices have not moved. BoAML’s analysts see close to 1.5 mn b/d of output oil facing some risk of disruption, primarily across Venezuela, Iran, and Libya.
Atlantic Sentinel | Year 2003 was a different era. The US waged a war of choice in Iraq; Vladimir Putin’s Russia was seen as a paper tiger; China’s economic boom roared but didn’t threaten; Dubai was unknown; and the United States seemed like it would forever be an oil importer. Much has changed.
OXFORD | By Nayef Al-Rodhanvia via BBVA Open Mind | “Why do they hate us?” is a question often asked among the American population since September 11, 2001. At the same time, Arab-Islamic populations around the world find themselves in a similar predicament. Ubiquitous misrepresentations and alienating stereotypes pervade through security discourses, conflating images of an extremist minority with the attitudes of the peaceful majority.