Explainer: What is OPEC? - The World Economic Forum
Nov 11, 2022 · Before OPEC formed, the international oil market was dominated by the “seven sisters” group of multinational energy companies. The group was set up at a time of global …
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 …
What’s the future of OPEC? | World Economic Forum
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 outsized swing …
Dozens of energy ministers are gathering in Riyadh. Here’s what …
Apr 28, 2024 · Saleh Al-Kharabsheh, Minister of Energy and Mineral Resources of Jordan; Almassadam Satkaliyev, Minister of Energy of Kazakhstan; Ibrahim Matola, Minister of Energy …
Why oil prices matter to the global economy - an expert explains ...
Feb 16, 2022 · Supply has not been able to fully respond to increased demand. OPEC has been scaling up oil production slowly, but it also has limited spare capacity and is probably cautious …
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, …
This is what climate change costs economies around the world
Nov 29, 2023 · “Our only ask is that you come with solutions, and real actions,” Majid Al Suwaidi, Director-General and Special Representative of the United Nations Climate Change …
Inflation: Why is it rising across the world and will it stay that way ...
May 12, 2022 · Inflation is on the increase around the world, with food and energy prices hitting record highs. The rise has been driven in large part by pent-up consumer demand after the …
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 …
The Strait of Hormuz: what you need to know - The World …
Jul 23, 2019 · -OPEC members Saudi Arabia, Iran, the UAE, Kuwait and Iraq export most of their crude via the Strait -Qatar, the world’s biggest liquefied natural gas (LNG) exporter, sends …