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May 1, 2020

Iraq
Between a Rock and a Hard Place: Iraq’s Pledge to Cut Oil Production

Iraq faces an uphill battle in meeting its obligations to the historic production cut agreement reached by the Organization of Petroleum Exporting Countries (OPEC) and other major producers such as R…

A worker wears a protective mask, following an outbreak of coronavirus, at Nahr Bin Umar oil field, north of Basra, Iraq March 15, 2020.

May 27, 2020

Russia
Russia's Complex Oil Reality

This is a guest post by Hunter Kornfeind, intern for Energy and Climate Policy at the Council on Foreign Relations and current student at Temple University. Russia is coping with a new reality fro…

Workers stand next to a logo of Russia's Rosneft oil company at the central processing facility of the Rosneft-owned Priobskoye oil field outside the West Siberian city of Nefteyugansk, Russia.

May 14, 2020

Coronavirus
The Elements Unfold: A Possible Bottom to Oil Prices

The process of going into lockdown due to the coronavirus pandemic has been revealing, especially in regards to oil. There are many elements to the smooth operation of global oil logistics that are n…

Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S. April 21, 2020.

May 13, 2020

Nigeria
Amid Oil Price Collapse, Nigeria Is Running out of Foreign Exchange

The fall in international oil prices amid coronavirus is having a devastating impact on Nigeria’s formal economy. Oil, the property of the Nigerian government, provides more than 60 percent of government revenue and 90 percent of foreign exchange.

A money changer counts Nigerian currency notes for a customer in Nigeria's commercial capital, Lagos, Nigeria, on March 16, 2020.

July 14, 2020

Nigeria
The Prospect of Local Policing Amid Security Breakdown in Nigeria

Amotekun, known officially as the Western Nigeria Security Network, is funded by the governors and has the blessing of traditional Yoruba leaders. The Nigerian National Assembly is considering recognition and authorization of regional police forces.

A police officer in dark pants and a blue, short-sleeved shirt with a black cap, tried to block the path of protestors carrying signs on a street in Abuja. He is armed with a baton.

July 14, 2020

China
The United Kingdom Bans Huawei From 5G Networks

Amid pressure by the United States, the coronavirus pandemic, and China's crackdown on Hong Kong, the United Kingdom has banned Huawei equipment from its 5G networks.

A sign reading "Boris Stop Huawei" is seen next to the M40 motorway.

April 22, 2020

Oil and Petroleum Products
As Oil Collapses, so Does a Vital Source of African Revenue

Accompanying the misery of the coronavirus pandemic—and exacerbated by it—has been an ongoing crisis in the oil industry. While the scale and tragedy of the coronavirus is front and center in our minds, the collapse of oil is more abstract, and its long term consequences will be serious. Especially in Africa, the collapse of oil is likely to devastate government revenue at exactly the same time the continent faces the astronomical costs of responding to the coronavirus and looming famine.

Kaombo Norte floating oil platform is seen from a helicopter off the coast of Angola, November 8, 2018

April 20, 2020

Financial Markets
OPEC Plus’ Zero-Sum Oil Game

Prior to the U.S. invasion of Iraq in 2003, international sanctions had severely curtailed Iraq’s oil industry. Oil production sat at 1.4 million barrels a day (b/d). Iraq’s beleaguered refining indu…

The Suezmax sized oil tanker Karvounis lies at anchor south of Port Fourchon, Louisiana, U.S.

July 8, 2020

China
Slouching Toward Phase One

On current trends, goods exports to China will struggle to reach their 2017 level—there won't be any big gains from the Phase One deal.

US Goods Exports to China Cumulative Comp and projections for 2020

April 6, 2020

Oil and Petroleum Products
Oil Ground Zero: Running Out of Storage

In recent days, the Donald J. Trump administration appears to have been sending mixed messages about oil. Typically, low oil prices can be a stimulus to the U.S. economy, but that is in situations wh…

 A local mural takes on new meaning while a United Parcel Service (UPS) delivery truck pauses at a traffic light, as the spread of coronavirus disease (COVID-19) continues in Washington, U.S., March 27, 2020.