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Why Has the Price of Oil Remained Below War-Time Expectations?
Middle East Council on Global Affairs · August 24, 2026 · Week 2026-35
Summary
This analysis explores the reasons behind crude oil prices remaining subdued despite significant geopolitical tensions. It likely examines factors such as robust non-OPEC supply, demand-side concerns, and the substantial spare production capacity held by key OPEC+ members, which are collectively dampening the traditional war-risk premium.
Strategic Implication
Indicates that the oil market currently perceives OPEC+ spare capacity as a sufficient buffer against geopolitical supply disruptions, reinforcing the group's influence on price stability.