Petro Diplomacy 2017: Political and Economic Flashpoints for Oil Markets

Jason Bordoff, Elena Ianchovichina, Jean-Francois Seznec, Ibrahim Al-Muhanna, and Karen E. Young (Moderator) Critical geopolitical issues and major economic reform efforts amid a low growth, low oil price environment have created challenging financial imperatives for the GCC region. A new generation of Gulf leaders are upending political agendas, from the embargo on Qatar and its impact on the region’s economies to a more muscular, costly military posturing in Syria and Yemen to escalating tensions with Iran. The nascent Saudi-Russian axis in oil affairs is the foundation for the new OPEC and non-OPEC cooperation on oil policy but doubts persist if the relationship can withstand conflicting political agendas on Iran and Syria. As a result, the new dynamics of GCC relations with neighbors and allies, including the Trump administration, are having a profound impact on energy geopolitics.