RE:Geo-political SituationSukhi19 wrote: https://www.aljazeera.com/news/2015/09/isil-capture-parts-government-oilfield-syria-150907123935546.html
With expansion of territory, ISIL becomes a serious threat to peace ( What ever is left of it) in this region.
Saudi Arabia and other kingdoms have to step up efforts to control ISIL's area of influence.
Politcal stability is a pre-requoisite for smooth flow of oil supply from this region.
As of now chances of peace in this region are diminishing by the day.
What needs to be remembered is that with so many flash points in the region, it will take just one major incident to disrupt oil supplies.
Needless to add with this last Syrian oil field gone we have lesser supply. Even such small drops in supplies will add up to some thing worth considering.
After Saudi King's visit to USA we can expect some action by OPEC to cut production.
Rusia will not stand on prestige jand lose billions in revenue.
At some stage better sense will prevail.
Above is just a theoratical visulization of a future scenario . Nobody, can be sure.
With refugee crisis in Syria and killings in Yemen assumimg alarming proportions Saudi Arabia can not stand aside for ever when rst of the world is trying to help.
People in Europe and North America are raising voices that Saudi Arabia should also help.
well said "Investors are awaiting euro zone second-quarter gross domestic product figures on Tuesday, followed by monthly global oil supply and demand data from U.S. and global energy authorities to give oil further direction." I am eager to see results of supply destruction for August this week. in July is was 600,000 bpdo. What will august be?