The global oil industry is a highly lucrative sector that is strongly influenced by geopolitical developments. As the Post-Cold War era comes to an end, a new status quo is arising. The U.S. was once the only player with the capability to significantly influence energy markets around the globe. The country’s military and global alliances proved powerful tools in controlling developments in regions such as the highly volatile Middle East. But Washington’s global reach is fading and both Russia and China are on the rise. Moscow has become a force to reckon with in several regions due to a combination of diplomacy and energy politics. In addition to that, Washington’s foreign policy blunders have created power vacuums for other actors to take advantage, blunders such as the recent unexpected withdrawal from Northern Syria. Arguably, Russia has now become the most important power broker in the Middle East. Moscow’s plans, […]