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Trump’s Russia threat rings hollow
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats
US oil sector faces complicated path
Trump energy policies and changing consumer trends to upend oil supply and demand
California refiners dreaming of heyday
US downstream sector in key state feels the pain of high costs, an environmental squeeze and the effects of broader market trends
Mars attacks US oil industry
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Bakken oil output may hold its ground
While oil prices will determine the trajectory of the key US shale patch, regulation and technological shifts are also likely to shape direction longer term
Letter from the Middle East: Iran-Israel war risks dire straits
A blockade of the Strait of Hormuz would have reverberations that would sound around the world
US, Russia and China circle the Arctic
The strategic importance of vast untapped oil and gas reserves and key shipping routes has come in from the cold
Israel-Iran war imperils Egypt’s energy supply
Egypt’s government was already preparing for potential energy shortages this summer, and the loss of Israeli gas supply has made things worse
The oil risk premium fable
Israel’s attack on Iran caught oil firms with low inventories due to their efforts to protect themselves from falling prices, creating a perfect storm
Trump creates new risk dynamic
US policies may have lasting effects in sectors such as energy, that rely on predictable rules and long-term planning
US sanctions have made Iran increasingly creative in finding outlets for its mainly heavy sour crude
Iran US
Paul Hickin,
Editor-in-chief
20 July 2023
Follow @PetroleumEcon
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Iran’s crude increases raise US, OPEC+ questions

A tight sour oil market and a reluctance by Washington to take a hard line could allow the OPEC producer to keep testing boundaries, but for how long?

Iranian oil minister Javad Owji told reporters at the OPEC seminar in Vienna in early July that his country’s crude output had crept above the 3m b/d mark. While this means the sanctions-hit producer is still c.800,000b/d shy of its capacity, it also shows crude output is at its highest in five years. The OPEC member, which is exempt from production cuts, is no longer in the shadows. At various points in the past few years there has been hope that Iran and the US would strike some kind of nuclear deal that would allow for an end to sanctions. Recent diplomatic activity has rekindled hope of a return to the agreement of 2015, when Iran was producing in excess of 3.80m b/d and jostling with Ir

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Trump’s Russia threat rings hollow
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The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats
US oil sector faces complicated path
24 July 2025
Trump energy policies and changing consumer trends to upend oil supply and demand

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