Energy Market Update – Oil Continues to Fall as Saudi Throws Down the Gauntlet

Salonika Consultancy

From our analyst in Dubai, an update on the Energy Markets, including the implications of falling crude oil prices, and why there is more than meets the eye with Saudi Arabia and Russia….

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It has been a momentous few months for the Energy Markets, culminating in a 6.7% fall in the price of Crude Oil on ‘Black’ Friday the 28th of November – as the market takes an ominous turn. The latest move lower on Friday was precipitated by OPEC announcing they would not cut production, as they seek to defend their market share. As mentioned in our research prior, we were not of the opinion – despite the plethora of naysayers – that equated a resurgent ISIS with increase an increase in oil prices. ISIS controls a miniscule fraction of Iraq and Syria’s oil production capacity and energy prices were always going to be dependent on…

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