OPEC celebrates 60 years between discord and the vertiginous fall of the oil monopoly - Plataforma Media

OPEC celebrates 60 years between discord and the vertiginous fall of the oil monopoly

OPEC, which celebrates its 60th anniversary, is experiencing one of the worst crises of its existence, with low demand for oil due to the covid-19 and the energy transition. Its monopoly is questioned and discord prevails among members.

However, experts say the organization has not yet said its last word.

“The prospects for the cartel have never been less favorable,” Philippe Sébille-Lopez, an independent analyst and director of Géopolia, told AFP.

Founded on September 14, 1960 at the initiative of Saudi Arabia, Iran, Iraq, Kuwait and Venezuela. The alliance now has 13 members, plus 10 if signatories to the OPEC + agreement, which includes Russia, are added.

These 23 countries account for half of the world’s oil production.

Este artigo está disponível em: Português

Related posts
EconomyPolitics

Venezuela agrees to supply oil to Europe but with advance payment

Oil sales bring Angola more than expected

AngolaEconomy

Angola to cut production by 261,000 barrels of oil per day

AngolaEconomy

'Nothing remained' for Angolans from billions of oil revenue

Assine nossa Newsletter