The little cartel that could
DOES OPEC matter? Those who dismiss the significance of the Organisation of Petroleum Exporting Countries, a producers’ cartel, cite at least three reasons to think not. Its 14 members cannot agree among themselves, not least because they include bitter regional rivals like Iran and Saudi Arabia. Even if the cartel could agree, its pacts would not work, because so much crude oil is now produced outside the club, in the hinterlands of Siberia or the fracking fields of America. And if OPEC’s agreements will not work, its members will have no reason to stick to them.
Those who think OPEC still... read more
- 00:36 Early wickets were not enough to stop leaders
- 00:18 Matt Le Tissier: ‘VAR will make defenders be defenders, not wrestlers’
- 00:13 Manchester United ready to include Anthony Martial in bid to sign...
- 00:09 East Coast train line back under public control
- 00:04 Highland midwives hit the screens with second TV series
- 23:57 The best tech from Sonar 2018
- 23:57 Scottish independence supporters march to Bannockburn
- 23:53 Alarm sounded on R&D tax relief cowboys
- 23:53 Captain leads rearguard as strugglers earn draw
- 23:51 Euan McColm: Protect democracy from politics of harassment
- 23:43 Wolves are the frontrunners to sign Jack Wilshere - reports
- 23:38 Review: Hyundai Ioniq,
- 23:35 EXCLUSIVE: U-turn! Stobart's ousted boss's bold plans to re-merge...
- 23:33 Dani Garavelli: Pressure is piling to decriminalise cannabis
- 23:29 Versatile Mexico validate Osorio's tinkering with second World Cup win
- 23:26 Dani Garavelli: Don’t commit to Mack Mk3 in heat of moment
- 23:22 Legal threat looms over teachers not telling parents if pupil...
- 23:18 Police release statement on high-speed chase through Hull ending in...
- 23:14 Call for ban on ‘talking, listening’ Cayla
- 23:12 Trump stays on immigration offensive as Democrats seek answers on...
- 23:01 At least 15 injured in ‘failed assassination attempt’ on...
- 23:00 John McEnroe insists Serena Williams should be seeded at Wimbledon
- 23:00 England’s Sophie Ecclestone rips into New Zealand for big fightback
- 23:00 Gareth Southgate keeping his young England side calm amid the storm
- 23:00 England coach Eddie Jones: ‘We’re coming to a peak after South...
- 23:00 Sarah Sanders kicked out of restaurant because of work for Trump
- 23:00 Vatican ex-diplomat sentenced to five years on child pornography...
- 22:57 Ethiopia president targeted in grenade assassination attempt at...
- 22:47 Germany spark bust-up by sarcastically clapping Sweden’s bench...
- 22:45 Gareth Southgate: England must keep World Cup boss for at least...