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The growing global backlash against China's involvement in both the COVID-19 pandemic and Hong Kong's political crisis is fueling a new brand of "wolf warrior" diplomacy in Beijing based on a nationalistic Chinese movie. This more aggressive stance abroad exposes a sense of vulnerability in Beijing, and poses two potential
OPEC+ appears headed for an earlier-than-expected online ministerial meeting on June 4 to discuss how to extend oil production cuts for the rest of the year, given the faster-than-expected recovery in oil prices. During the meeting, members will reportedly consider a Saudi-Russian compromise on a very brief 1-2 month delay
In the 2020 spring semester, Stratfor's Vice President of Strategic Analysis Rodger Baker presented challenges to University of Texas at Austin undergraduate STEM students, in cooperation with the university's Inventors Program and LBJ School of Public Affairs Intelligence Studies Project.
As COVID-19 saps oil demand, the economic fallout will likely leave Saudi Arabia back in the role of "price taker," as the kingdom's new austerity measures strongly imply Riyadh recognizes it will eventually need to adjust its spending habits to the global oil market instead of the other way around. With no immediate recovery in sight,
As pandemic-induced oil price shocks rob Baghdad of its primary revenue source, the success of Prime Minister al-Kadhimi’s new government will hinge on avoiding the further deterioration of the country’s economic and political stability.
International oil companies with operations in Iraq have agreed to reduce their output by 300,000 barrels per day (bpd) from five supergiant fields in the country as part of a new production cut agreement with the Iraqi government, Reuters reported May 13.
China’s threat to heavily tariff barley exports won't keep Canberra from pushing to investigate Beijing's role in the pandemic, but it will make life even harder for Australia’s already struggling agricultural sector.
In the face of the COVID-19 crisis and subsequent global recession, most countries are launching significant fiscal stimulus programs to boost domestic economic activity. Governments dependent on oil and gas revenue, however, are being forced to do the opposite as the likely long-term collapse of energy prices necessitates sharp spending
U.S. Trade Representative Robert Lighthizer, U.S. Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He agreed to move forward with implementing their “phase one” trade deal following an overnight conference call, the South China Morning Post reported April 7.
The United States and China have been locked in a technology cold war for several years. The COVID-19 pandemic, which originated in the Chinese city of Wuhan, is now pressuring Washington to make even stronger moves against Beijing by fueling anti-China sentiment among U.S. voters and legislators alike. But the
The Arab Gulf states within the Gulf Cooperation Council (GCC) are looking down the barrel of a serious, multilayered economic shock as COVID-19 disrupts their main revenue sources by slashing energy prices as well as overall global demand. The sharp reduction in government income across the region portends increased budget
The president of Iraq’s Kurdistan Regional Government (KRG), Nechirvan Barzani, asked the U.N. special representative to Iraq to help mediate its latest dispute with Baghdad over the KRG’s failure to send oil in exchange for its share of the federal budget, Rudaw reported April 28.
The Smithfield pork processing plant in Illinois has shut down indefinitely following COVID-19 infections among workers, adding to an increasing number of such closures in recent weeks, the Chicago Tribune reported April 27.
Hezbollah is spearheading some of Lebanon’s response to the COVID-19 outbreak, which the central government has struggled to handle. Successful efforts to contain and manage the virus could increase the Iran-backed militant group’s popularity and political power in Lebanon, which has taken a hit in recent years. A more empowered
Iran and the United States may be heading toward another round of confrontation, even as both countries deal with significant COVID-19 outbreaks at home. Following a recent incident where 11 Iranian ships harassed U.S. vessels transiting the Persian Gulf, U.S. President Donald Trump tweeted April 22 that he had "instructed" the