Crude Realities: The Geopolitics of Oil

Presented on 6-18-24
Presented by Robert Kunnen
Geopolitical shocks can have an impact on oil prices through lower economic activity and/or higher risks to commodity supply. The evolving, complicated geopolitics of oil is making it increasingly difficult to predict the direction of oil and gas prices. Russia is currently selling oil on a discounted basis, even under sanctions, to finance its war effort in Ukraine, and many countries are taking advantage of very favorable pricing. Further, Iranian proxies are disrupting oil shipments in the Red Sea. What are the challenges ahead for this sector?