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Oil Price in 2021: evolving Middle Eastern politics still weighs heavily on it!

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It’s no secret that the politics in the Middle East directly determine the price of crude oil. More often than not, it is predicable: the collective stance against Israel, the desire to maintain the oil price at its peak for as long as practicable and recognizing Shite Iran as a threat against the Sunni dominance in the region, to name but a few.

Against such backdrop, a new unprecedented uncertainty has emerged in the Middle East involving two key players of the OPEC+, the UAE and Saudi Arabia, with its unpredictability evolving by the day in proportion to the anticipated economic impact on both, by the sentiments of the net-zero aspirations and renewable energy boom.

More on that is here:

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