Gulf Intelligence Podcasts PODCAST: Daily Energy Markets - May 29th
May 29, 2025
Iman Nasseri, Managing Director for the Middle East at FGE Dubai, and Ahmed Mehdi, MD of Renaissance Energy Advisors, provide sharp insights into the volatile energy market. They discuss the potential for a US-Iran nuclear deal and its bearish implications for oil prices. The conversation highlights OPEC's strategic moves amid weak global demand and geopolitical tensions. The complexities of oil dynamics, including relationships between major producers and the impact of political decisions on market reactions, take center stage.
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OPEC's Baseline Revision Delay
- OPEC's delay in revising production baselines is overdue but unlikely to majorly impact markets.
- Increasing July volumes by 400,000 barrels is expected, though physical output may be less than nominal figures.
OPEC's Strategy Against US Shale
- OPEC wants control over market share amid uncertainty from US shale production.
- They cautiously increase production to pressure US shale while maintaining market stability.
Iraq's Infrastructure Limits Production
- Iraq's production limitations stem from midstream and export infrastructure constraints.
- Integrated projects by Total Energies, BP, and China suggest efforts to improve competitiveness and value extraction.