#OPEC #Price war #petroleum #financial market #price #Brent Crude #oil #Market share #economy #energy and resource #weather #climate change #energy market
Publications: The Economist
Posted on: December 12, 2020
Amid a cloudy outlook for oil, American frackers can no longer count on OPEC's price supports
CARTELS EXIST to exert control. This year the Organisation of the Petroleum Exporting Countries (OPEC) and its allies have occasionally seemed to prefer chaos. In March Saudi Arabia and Russia began a price war just as covid-19 crushed demand, akin to staging a fight atop a sinkhole.
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