What Role Does Global Geopolitics Play in the Oil Market?

Event Details

2026 is the year of disruption. Starting first with geopolitical events in Venezuela and Iran but also including major market disruption from the fast-moving AI race and rise of Claude. These have changed the course of oil markets. Prior to the start of the year, market fundamentals pointed to a growing over supply of crude and corresponding weaker oil prices. Geopolitcal risk has kept prices for the first quarter stronger than anticipated. Still companies are being cautious about the price outlook and are responding with caution. What does that mean for the US production outlook? What will happen if the geopolitical risk changes?

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