Oil is at $47 a barrel. All the oil exporters need more to break even, Saudi Arabia, Oman, Bahrain and Algeria more than $90. Crisis seems only a few years away. Are they in denial?
Russian entry into Syria opens a gap between Russia and China. China and the new energy landscape.
Oman has been hit hard by the oil price drop, so this week the government has been holding crisis meetings to consider ‘major reforms’ to plug the deficit. The fiscal crunch comes at a time of growing political uncertainty.
Continuing fall in the oil price beginning to hurt, even low cost producers
Impact of the low oil price has not yet shown itself , but that can’t go on
Algerian reserves down by more than 10% in the first quarter of 2015. Social/economic unrest in the South Arab/Berber.
For some years now it has been common talk that the impact of unconventional gas (shale gas, tight gas) becoming available in enormous quantities will have a dramatic effect on world energy prices, so dramatic that it will fundamentally change the relationship between the oil exporting Middle East and the oil importers, above all America which is seen as a leader in unconventional gas; on 1 November the first major natural gas pipeline in America in 40 years is to go on stream bringing gas from Pennsylvania into Manhattan. Yet …