Energy Archive

The global clout of OPEC, never one of the world’s most admired institutions, reached a nadir in April when a dispute between Saudi Arabia and Russia triggered a price war just as global oil demand was collapsing due to the coronavirus pandemic. Three months later, the cartel has re-emerged as a model of transnational cooperation and collective sacrifice, implementing historic production cuts in an effort to stabilize prices. Oil markets have noticed. After cratering below $20 a barrel in April, Brent crude, the international benchmark price, has hovered between $42 and $45 so far this month, even as demand remains […]

Foreign ministers from China and the Arab world held their ninth meeting of the biennial China-Arab States Cooperation Forum earlier this month, at which they pledged to “deepen cooperation in various fields, and embrace new prospects in building a China-Arab community with a shared future,” according to Chinese state media outlet Xinhua. The meeting is sure to renew debates over the nature of Chinese influence in Gulf Arab states. China hawks in the United States often overemphasize China’s economic power in the region by focusing on the threats posed by companies like the telecommunications giant Huawei or BGI Group, a […]

Russia’s Arctic region is experiencing one of the hottest summers on record, and it is only early July. The mercury hit 100 degrees Fahrenheit in parts of northern Russia last week, more than 30 degrees above the average for this time of year, and meteorologists are forecasting more blistering heat in the days and weeks ahead. At first glance, the heat wave might look like great news for Russia’s giant oil and natural gas companies. The higher temperatures will accelerate the melting of permafrost in the Arctic, making it easier to extract the rich deposits of natural resources buried underneath […]