Iraqi Turmoil And the Global Oil Market

by Sara Vakhshouri On Saturday June 21, Iraq’s largest refinery at Baiji finally succumbed to the forces of the radical Sunni militant group, the Islamic State in Iraq and the Levant (ISIL, often referred to as the Islamic State in… Continue Reading  

Russia, China Finally Sign $400 Billion Energy Deal: Why Now?

by Sara Vakhshouri After almost a decade of negotiations, Moscow reached a 400 billion dollar energy deal with Beijing yesterday, allowing the Russian state-controlled Gazprom to export gas to China for 30 years. The key agreement guarantees long-term market access… Continue Reading  

Gasoline Prices: Iran’s Achilles’ Heel

by Sara Vakhshouri This week Iranians began dealing with a new phase of reduced fuel subsidies and increased gasoline prices. The new gasoline prices were announced at midnight on April 24 by the National Iranian Oil Refining and Distribution Company… Continue Reading  

The Ukraine Crisis: A Game-Changer in the Global Energy Market?

by Sara Vakhshouri The tension between Russia and the West, and particularly the European Union, over Crimea has once again raised questions over the security of energy supplies and the use of energy as a tool of foreign policy and… Continue Reading  

Iran’s Oil Production At Lowest Since 1986

by Sara Vakhshouri In the last week of April, the US Energy Department issued a report showing that Iran’s crude oil and condensate exports have dropped to their lowest level in the past 26 years. The Energy Information Administration (EIA)… Continue Reading