US sanctions: Russia and Saudi Arabia - News Stream

Welcome to News Stream, Oil & Gas IQ's regular video series bringing you the latest updates from the world of oil and gas.

Add bookmark

In the pipeline this week

On Wednesday Saudi Arabia and Russia agreed to increase oil output from September to December after officials struck a deal last year before consulting with other producers, including the rest of the Organization of the Petroleum Exporting Countries (OPEC).

This comes ahead of U.S. sanctions against Iran's oil sector which are set to kick in from Nov. 4 and which many analysts expect to knock around 1.5 million BPD of supply out of markets.

There is increasing concern that high oil prices and weakening emerging market currencies are creating a toxic inflationary mix that could erode fuel demand and economic growth.

Oil price gains are hitting the pocketbooks of American drivers, which is particularly risky ahead of November midterm elections. Trump tweeted in September: "We protect the countries of the Middle East, they would not be safe for very long without us" Trump has increasingly dangled the US's military relationship with Saudi Arabia as incentive for the country to keep prices down, saying Saudi Arabia's king "might not be there for two weeks" without U.S. military support.

In addition...

Oil & Gas IQ is also researching the impact of downstream supply chain threats on fuel integrity with our new survey. As the oil and gas supply chain becomes increasingly complex, oil and gas companies are held accountable for assuring the quality and volume of fuel that leaves the terminal is the same quality and volume that reaches the retail site. So how can you protect your revenue, brand reputation and customers and thrive in today’s supply and distribution chain complexity?

We have put together a very quick survey on this topic and invite your participation. As a thank you for completing the survey, Oil & Gas IQ will send you a full report once the results have been gathered. You’ll also be entered in a draw to win one of two €50 vouchers.

I look forward to your invaluable feedback! Take the survey by clicking on the link below.

Take the survey.