All tagged OPEC
The world's biggest collective oil production cut. It’s still not enough
For however historic the size of the production cuts reached the world’s biggest and medium-sized producers at the so-called ‘OPEC+’ and G20 videoconferences, the markets weren’t impressed as oil prices fell to a range they haven’t been in for nearly two decades
Trump orders OPEC to pump more—and lower prices. He’s barking up the wrong tree
President Trump wants lower pump prices—and he’s looking to OPEC, the club of oil producers, to make it happen. Not only is it rare for a US president to do this openly, but it’s misguided: OPEC members are deeply divided on the production-price question, and OPEC’s share of global production—even if their members did agree—would have only a marginal effect on prices anyway.
Calm before the Storm: The Global Oil Industry in the 1960s
The international oil industry of the 1960s was a period of incredible growth—in production, reserves, demand and countless new oil-based consumer products. However, beneath this apparent stability, the domination of a handful of Western-based oil companies who, for decades essentially controlled how much oil would be produced and how it would be sold, was ceding to a more diverse—and more unstable—international oil order.
