OPEC

Key oil producers in OPEC and beyond are wracked by war, instability, violent protests and economic sanctions. Events in Iraq, Russia and Libya – to mention just three – all have the ability to profoundly affect global oil supply/demand balances and massively move prices. Yet in all three, the impact on global supply/demand balances remain unclear. Oil prices, for now, remain calm.

That events in Libya and Russia/Ukraine are likely to have a major effect on world oil...