World politics
fromwww.theguardian.com
2 hours agoCould the UAE's shock exit from Opec cause an oil price war?
The UAE's exit from Opec threatens the stability of global oil markets and may lead to increased volatility and price wars.
The president meets with energy executives frequently to get their feedback on domestic and international energy markets. Topics included domestic production, progress in Venezuela, oil futures, natural gas and shipping.
It's a bit of a stalemate. Both sides feel like they have leverage, and I think both sides are right to feel that way. It seems the Trump administration does not feel time pressure; they don't feel a need to cave on any of their objectives at the moment. Iran probably feels the same way.
The ongoing conflict between the US and Israel against Iran is creating significant challenges for Gulf Arab nations, which are already feeling the economic strain from rising tensions and instability in the region.
Even post-conflict, we expect [that] some of the trade flows [will] tend to reset rather than return to what they were before the war, said Rob Wilson of the energy data and consulting firm East Daley Analytics.