By Jonathan Ariel, May 6, 2020
EXECUTIVE SUMMARY: Oil relationships are as unstable and volatile as romantic ones. Following a deadlocked OPEC summit in February, Moscow and Riyadh announced they would ramp up production, sending already low prices tumbling. Since both countries’ budgets are almost entirely dependent on energy exports, this suggests they have decided geopolitical interests trump purely economic ones.
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Karen E. Young | Al-Monitor
The global COVID-19 pandemic will have a dramatic effect on economies across the globe. But the Middle East may be particularly affected, given the simultaneous fall in oil prices. The economic consequences of this pandemic are also likely to affect U.S. interests in the region. Read more »
We offer this opinion piece about increasing US responses to Iranian aggression just as President Trump has this morning “instructed the United States Navy to shoot down and destroy any and all Iranian gunboats if they harass our ships at sea.” Of course, we don’t know the crucial rules of engagement that will guide Navy…