June 27, 2019

Key energy issues to watch as Trump meets G20 leaders in Japan

Featuring Ely Ratner

Source: S&P Global

Journalists Brian Scheid, Meghan Gordon, Takeo Kumagai

Energy security, OPEC production cuts, trade tensions and US oil sanctions are likely to come up in one-on-one talks between US President Donald Trump and world leaders at this weekend's G20 Summit in Osaka, Japan.

The G20 energy meetings earlier this month happened days after two oil tankers were attacked near the Strait of Hormuz, escalating regional tensions and inspiring "grave concern" among Asian importers like host Japan that rely on the shipping route to meet much of their oil and gas demand.

Global markets are also hanging on an expected meeting between Trump and Chinese President Xi Jinping, which may determine if the two can reach a trade war ceasefire or if Trump follows through with a threat to impose 25% tariffs on an additional $300 billion worth of Chinese goods.

G20 members account for roughly 60% of global oil production and about 80% of oil consumption.

Read the full article and more in S&P Global.

Authors

  • Ely Ratner

    Executive Vice President and Director of Studies

    Ely Ratner is the Executive Vice President and Director of Studies at the Center for a New American Security (CNAS), where he is a member of the executive team and responsible...