What is OPEC Plus? The Impact of OPEC Plus on Oil Price

Описание: OPEC Plus was a move to expand the coalition by including Russia, a leading oil producer to stabilize oil prices amid major upheavals in the oil market. It was experimented on during the 2008 financial crisis and later the COVID-19 with limited success. For instance, in 2020, we have seen oil price war between Russia and Saudi Arabia.

Russia's 2022 invasion of Ukraine led to a surge in oil prices, briefly boosting OPEC's relevance. On the flip side, it also intensified the global push towards renewable energy, posing long-term challenges to the fossil fuel industry. #opecplus, #opecpluscountries, #opecpluscuts, #opecplusagreement, ,#opecplusambitions