Summary Last week, Iran and the P5+1 negotiators announced that they would again extend talks aimed at halting Iran’s nuclear program, with a proposed final framework due by March 1, 2015, and a final deal due by July 1. Since the previous 2014 extension, oil markets have experienced a significant shift. With global oil demand […]
Summary Public spending has risen sharply since 2009 in several key oil producers that depend on oil export revenue to balance their budgets. As a result, governments in oil exporting nations account for 45 percent of global oil supply will require an oil price in excess of $90 per barrel (bbl) to finance 2015 budget […]
SAFE’s analysis of the latest data from the Bureau of Labor Statistics finds that despite record domestic oil production, U.S. consumer spending on gasoline remained near all-time highs last year. Recent data from the Consumer Expenditure Survey (CES) from the Bureau of Labor and Statistics (BLS) indicates that the average U.S. household spent more than $2,600 […]
Summary With the July 20 deadline for the P5+1 nuclear talks with Iran fast approaching, Securing America’s Future Energy (SAFE) and Roubini Global Economics (RGE) have assessed three potential oil market and geopolitical scenarios based on differing outcomes from the negotiations: a temporary deal (70 percent probability); a final settlement (20 percent probability); and a […]
The current crisis in Iraq is a sobering reminder of the vulnerability of the United States to the inherent instability of the global oil market. The situation in Iraq has deteriorated rapidly over the past week, with significant implications for regional security and oil markets. Sunni militants aligned with former Baathist elements and tribal groups have […]
