12 December 2018
The rise and fall of oil prices in 2018
Prices rose, Trump hollered, supply signals were mixed, Iran was hit by sanctions and then prices fell back
2018 proved to be another year of mixed fortunes for the oil and gas industry, with prices firming up to levels that were more common pre-2014, before dipping down in November as fears of global oversupply, amid retrenchment in global economic growth, began to kick in. Nonetheless, for most of the year, the narrative was one of steadily rising prices—sufficient for the ever-voluble US President Donald Trump to make repeated calls for price restraint from Opec. With prices rising in June, Trump tweeted on 13 June that "oil prices are too high, Opec is at it again. Not good!" Whether good or not, Trump's moves may have had some short-term impacts. On 23 June, an Opec ministers' meeting in Vien
Also in this section
2 December 2024
Crucial role of gas means country is laying the foundations to control physical and trading supply chains
30 November 2024
Decades of turmoil have left Iraq’s vast energy potential underutilised, but renewed investment and strategic reforms are transforming it into a key player in the region
29 November 2024
Although Iraq remains a major crude exporter, it is still some way from becoming a regional energy supply hub. Ambitious new cross-border schemes aim to rectify that situation
29 November 2024
There are opportunities for attractive returns and greater project success amid a real push by the Iraqi government for reform, as long as there is a shared understanding between the needs of investors and the host government
