Nov 11, 2022 · OPEC's 13 member states hold over 80% of the world’s proven oil reserves. It aims to regulate oil prices by either reducing or increasing production.

Jan 14, 2015 · OPEC will continue to meet and hold itself out as a cartel that can control the oil markets, but that time has passed. The cartel was dependent upon Saudi Arabia to use its …

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 …

Feb 16, 2022 · What affects oil prices and how do fluctuations impact the wider economy? We discuss rising inflation, post-pandemic economic recovery and the energy transition.

Mar 4, 2022 · Russia's invasion of Ukraine inflated oil prices even further to well over $110 per barrel. We outline the impact on oil prices and the energy transition.

Jul 17, 2015 · Both episodes followed periods of high oil prices and a rapid expansion of non-OPEC oil supplies—Alaska, North Sea, and Mexico in the former, and U.S. shale oil, …

Oct 7, 2022 · The Crude Oil Windfall Profit Tax Act of 1980, enacted during OPEC oil supply disruptions, provides a definition and historical context. It defines a windfall profit as the …

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, …

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, …

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 …