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
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 …
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, …
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 …
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 …
How windfall taxes could bolster efforts to reach net-zero
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 …
These 8 countries have already achieved net-zero emissions
Dec 16, 2022 · Subsistence farming, sustainable forestry and tourism form the bulk of Bhutan’s economic activity. Tucked away in the Himalayan mountains, the kingdom has long pursued …
How will low oil prices affect global growth? | World Economic …
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, …
8 reasons why the politics of oil have changed
Feb 19, 2016 · 3. Climate policies are introducing new uncertainties on both the supply and demand side. If countries are serious about reaching a climate change target of 2 degrees …