The One Region Oil Markets Can’t Ignore In 2020

The year that is drawing to its close has been turbulent for the Middle East. While oil prices stubbornly refused to respond to efforts to push them higher, remaining locked in a tight and not particularly pleasant range, a number of attacks heightened tensions in the region and made many warn that the animosity between Saudi Arabia and Tehran could escalate to an open military clash. Will 2020 be any different? For oil prices, hardly. The International Energy Agency said earlier this month it expected a 700,000 bpd overhang in global oil supply…