Systemic Violence Threatens Middle East Oil Outlook

Date: 06-03-2015 | Category: Energy Security, Europe, Geopolitics

When oil ministers from the Organization of the Petroleum Exporting Countries (OPEC) meet in Vienna on June 5, they’ll face a strategic dilemma. Political instability in the Middle East and North Africa (MENA) is discouraging capital investment in local oil and gas projects, and shifting interest to North American shale—despite MENA’s cheap, abundant and easy-to-extract hydrocarbon resources (see graphs below). Although the current oil slump has hurt investment worldwide, the recovery period appears to favor investment in North America, the Caspian, and Africa at OPEC’s expense. http://www.atlanticcouncil.org/blogs/new-atlanticist/systemic-violence-threatens-middle-east-oil-outlook By Ariel Cohen The Atlantic Council June 3, 2015

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