The Iran War is Forcing Energy-Importing Countries to Turn Inward
The Iran war is pushing countries to prioritize domestic energy in order to protect themselves from volatile oil and natural gas markets.
The Iran war is pushing countries to prioritize domestic energy in order to protect themselves from volatile oil and natural gas markets.
The Yemeni militia group, which is backed by Iran, said it would impose a partial blockade in the waterway, a move that would further strangle supply routes and aggravate the conflict in the Mideast.
The cartel’s move to increase output by 188,000 barrels per day is largely symbolic, with vast amounts of the world’s oil stranded by the effective shutdown of the Strait of Hormuz.
Outmatched militarily, Iran used “triangular coercion” by attacking Gulf states and closing the Strait of Hormuz. It points to a long-term U.S. vulnerability.
Outmatched militarily, Iran used “triangular coercion” by attacking Gulf states and closing the Strait of Hormuz. It points to a long-term U.S. vulnerability.
Iranian attacks and the stoppage of seaborne transit have paralyzed Qatar’s vital gas exports, stalling the economic pivots intended to anchor the country’s growth.
American producers are under pressure from investors to keep spending in check, and they are wary of drilling more wells because they are not sure oil prices will stay high.
The exit of the United Arab Emirates is the most significant in a series of departures from the oil cartel in recent years.
Even the largest global supplier of liquefied natural gas can’t make up for the shortfall since the war in Iran cut off an important source.
The energy industry is planning for a future where the choke point on Iran’s southern coast is a lot less important.