looking beyond borders

foreign policy and global economy

Archive for the tag “non-OPEC”

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

The Cartel That Failed

Saudis, Russia, shale. That is all ye need to know in order to understand the oil market. The Saudis lead the OPEC oil cartel, Russia is their largest potential fellow traveler, and the Permian Basin in the Southwest is the oil-rich shale that stands between the other two and $100 per barrel oil.

Read Here – The Weekly Standard

OPEC’s Output Freeze: What Has Changed Since Doha?

It’s possible that OPEC is crying wolf with hints of an output freeze next month in Algiers; but it’s also possible that they are ramping up production to take the sting out of a freeze. This is a delicate balancing act that the Saudis need to play very carefully.

Read Here – OilPrice.com

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