Energy

The IEA’s release of over 60 million barrels of emergency oil stocks was the largest in IEA history. But there is increasing recognition of the need to coordinate such short-term measures with longer-term solutions.

On March 10, AGSIW hosted a discussion examining the impact of the Ukraine crisis on global oil and gas markets and the direct effects on the Gulf region.

Should more countries follow the EU’s lead and step up efforts to seek alternative supplies of oil and gas, Russia could find itself out in the cold, whether it wins or loses the war against Ukraine.

The Russian invasion of Ukraine crystallizes existing Gulf policies and could form the backdrop to further regional polarization and instability.

In the long term, Qatar could play a pivotal role in diversifying European gas imports away from Russia.

With oil prices above $80 per barrel, OPEC and its Russian-led allies are optimistic about the future, but geopolitical developments threaten to throw the market off-kilter.

For Gulf countries, 2021 was the year of ambition and new climate targets, and 2022 will be the year of implementation.

UAE, Saudi, and affiliated local forces have begun withdrawing from locations across southern and western Yemen; while couched as “redeployments,” together the moves suggest the Saudi-led coalition is actively looking for an exit strategy.