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 …
Why oil prices matter to the global economy - an expert explains ...
Feb 16, 2022 · OPEC has been scaling up oil production slowly, but it also has limited spare capacity and is probably cautious not to oversupply the market again. Beyond spare capacity, …
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 …
Which economies are most reliant on oil? - The World Economic …
May 10, 2016 · This seismic shake-up has come on the back of the steep and sustained drop in oil prices – from a peak of $115 per barrel in June 2014 to under $35 at the end of February …
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 …
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 …
What is the G20 and why does it matter? | World Economic Forum
Nov 15, 2024 · The G20 is a forum of the twenty largest economies in the world that meets regularly to discuss the most pressing issues facing the global economy.
What are the most major economic impacts of higher interest rates?
May 2, 2023 · The cycle of interest rate hikes is exected to slow throughout 2023. Yet the World Economic Forum’s latest Chief Economists Outlook found that the “prospects of a full-scale …