Oil market whiplash: Energy crisis, Omicron, and OPEC’s response
Автор: AtlanticCouncil
Загружено: 2021-12-03
Просмотров: 942
Описание: Oil has undergone a volatile couple of weeks. Demand had approached a post-pandemic crescendo as economic recovery coincided with the onset of winter in major markets. This, combined with the reluctance of OPEC+ countries to raise output, initiated a dispute between producer and consumer nations, with the United States and other major buyers tapping their strategic petroleum reserves to soften the price spike. Now, with the discovery of the new Omicron variant, oil prices are back in free fall as global markets tremble and questions arise over the global economic recovery. As the dust settles, Global Energy Center experts analyze the decisions of the OPEC+ ministerial and look ahead to how the Omicron variant will shape the market in the months to come.
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