OPEC loosens up | The Economist

OPEC loosens up

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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