looking beyond borders

foreign policy and global economy

How OPEC Shook Off A Historic Crash To Successfully Stabilize Oil Markets

The global clout of OPEC, never one of the world’s most admired institutions, reached a nadir in April when a dispute between Saudi Arabia and Russia triggered a price war just as global oil demand was collapsing due to the coronavirus pandemic. Three months later, the cartel has re-emerged as a model of transnational cooperation and collective sacrifice, implementing historic production cuts in an effort to stabilize prices.

Read Here – World Politics Review

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