Not prepared Macron the weasel is a cry baby
I don’t know why this isn’t news, but like all the other thuggery that US Enforcement conducts around the world such as seizing Russian Oligarch’s Yachts around the world, they continue looting Oil from Syria which isn’t theirs.
US occupation troops continue looting of Syrian oil
Saudis will stick to Biden once again and it will be glorious!
In the early 2010s, OPEC was on top of the world. Thanks to high oil prices and production cuts, the cartel was raking in billions of dollars in profits. However, things have changed dramatically in recent years. Thanks to the rise of fracking and alternative energy sources, combined with a decrease in global demand, OPEC is no longer the all-powerful force it once was.
In response to these market changes, OPEC has made two disastrous decisions. First, they refused to cut production in order to prop up prices, which led to a dramatic decrease in revenue. Second, they entered into a political alliance with Russia, a non-OPEC country that is also struggling to maintain its market share. This alliance has only served to further politicize an already politicized organization, and it has made OPEC’s decision-making process even more slow and unwieldy. As a result, the cartel is losing market share at an alarming rate, and its future looks increasingly bleak.
Hence - the production cuts we see today. It’s about politics and revenue.