The recent OPEC+ decision to not freeze production growth demonstrates the growing power of consumers.
![An important reason behind the decision by OPEC+ to not freeze production quotas was its fear of angering the main oil importing countries, writes Kozhanov [Dado Ruvic/Illustration/Reuters]](/wp-content/uploads/2020/10/opec-1.jpg?resize=270%2C180&quality=80)
The recent OPEC+ decision to not freeze production growth demonstrates the growing power of consumers.
![An important reason behind the decision by OPEC+ to not freeze production quotas was its fear of angering the main oil importing countries, writes Kozhanov [Dado Ruvic/Illustration/Reuters]](/wp-content/uploads/2020/10/opec-1.jpg?resize=270%2C180&quality=80)
Economic considerations will guide the incoming Raisi administration’s domestic and international policies.
![On June 18, conservative judiciary head Ebrahim Raisi was elected Iran’s eighth president.[Majid Asgaripour/WANA via Reuters]](/wp-content/uploads/2021/06/2021-06-19T163232Z_105829476_RC2S3O9NTM1J_RTRMADP_3_IRAN-ELECTION-GULF-PIX.jpg?resize=270%2C180&quality=80)
The ongoing bombing of Gaza is unlikely to deter the UAE from investing big in its new ally’s gas fields.
![The Tamar drilling natural gas production platform is seen some 25 kilometers West of the Ashkelon shore in February 2013 in Israel [Albatross via Getty Images]](/wp-content/uploads/2021/04/371265204.jpg?resize=270%2C180&quality=80)
The US shale oil boom has removed protecting Gulf oil from Washington’s list of top priorities.
![A missile-and-drone attack on Aramco facilities in Eastern Saudi Arabia on September 14, 2019 disrupted global energy supplies temporarily [File: AP/Amr Nabil]](/wp-content/uploads/2020/12/AP_19263520903678.jpg?resize=270%2C180&quality=80)
Even if demand recovers by the end of the year, the oil market will be slow to recover.

Why did Russia start an oil price war and can it win?

Russia fears an escalation between Iran and Israel and wants to avoid it at any cost.

The uncertainty after the attacks is causing some big buyers to look for alternative supply channels.

US-Russian cooperation on Iran has its limits.

Having vowed to protect the ‘downtrodden’, the Islamic Republic is unable to undertake any major structural reforms.
