Insight
Geopolitical risk and the oil market
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Report summary
As the Israel-Hamas war continues and attacks on the Red Sea escalate, the oil price has continued to trade in a range of $75 to $81/bbl. This prompts the question: Why hasn’t the oil price reacted to growing missile strikes and the Israel-Hamas war? In this brief Insight, we look at some of the factors that answer this question including: • Non-OPEC production trend • OPEC spare productive capacity • Summary of geopolitical risks
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