OPEC's Wild Card: How Iran's War is Wreaking Havoc on Global Oil Markets The ongoing conflict between Iran and the West has sent shockwaves through global oil markets, pushing prices to their highest levels since July.
At first glance, this might seem like just another chapter in the never ending saga of OPEC's machinations. However, closer inspection reveals a complex and worrying dynamic at play.
Geopolitics plays a significant role in shaping energy markets. The Iran war has created uncertainty, with major players such as Saudi Arabia and Russia struggling to fill the gap left by Iranian oil exports.