What are OPEC and OPEC+? How do they influence oil prices?
Nov 11, 2022 · Another 10 major oil producing countries including Russia have aligned with the group to form an alliance known as OPEC+. OPEC produces about 40% of the world’s crude …
What’s the future of OPEC? | World Economic Forum
There are notable exceptions – like the 1973-1974 oil embargo and a period of excess supply that undermined prices and crippled the Soviet Union in the 1980s (though whether this was a …
How does the war in Ukraine affect oil prices?
Mar 4, 2022 · Two weeks ago when oil prices were approaching $100, Maciej Kolaczkowski, Manager Oil and Gas Industry from the World Economic Forum's Energy, Materials, …
Why oil prices matter to the global economy - an expert explains ...
Feb 16, 2022 · When it comes to oil as a source of energy, depending on where you are, 50-60% of what consumers pay at the pump is tax. We tend to focus on the fluctuation in the crude oil …
Organization of the Petroleum Exporting Countries (OPEC)
Founded in 1960, the Organization of the Petroleum Exporting Countries (OPEC) is a permanent, intergovernmental organization with a mission to coordinate and unify the petroleum policies of …
Which economies are most reliant on oil? - The World Economic …
May 10, 2016 · This seismic shake-up has come on the back of the steep and sustained drop in oil prices – from a peak of $115 per barrel in June 2014 to under $35 at the end of February …
8 reasons why the politics of oil have changed
Feb 19, 2016 · But the oil glut could also have political reasons, such as undermining Russia. A more recent reason might be to prevent its regional rival Iran from re-entering the oil market, …
What is Saudi Arabia’s oil strategy? | World Economic Forum
Mar 9, 2015 · Saudi Arabia wants it all: to salvage OPEC, achieve income diversification and industrialization, and preserve its market share in crude oil, petroleum products, …
What’s behind the drop in oil price? | World Economic Forum
Mar 2, 2016 · The sharp fall is broadly similar in magnitude to the decline in 1985-1986, when OPEC members reversed earlier production cuts, and in 2008-2009 at the outset of the global …
Explainer: What drives gasoline prices? - The World Economic Forum
Jun 16, 2022 · Established in 1960, OPEC was created to combat U.S. dominance of the global oil market. OPEC sets production targets for its 13 member countries, and historically, oil …