OPEC

Postponing The World’s Financial Winter, But For How Long?

April 20, 2026 Michael Hudson, Counter Punch. Educate! Energy, History, Iran, OPEC, Strait of Hormuz, US Imperialism

Announcing that “A whole civilization will die tonight,” Donald Trump threatened on April 7, 2026, to destroy “every bridge in Iran” and “every power plant … burning, exploding, and never to be used again.” His intention to continue committing war crimes is driving the world toward a Financial Winter as devastating as the Great Depression. Iran’s April 8 response called his bluff, laying down the terms for ending the conflict and opening the Strait of Hormuz. Oil-importing countries will need to compel U.S. and Israeli compliance with these terms in order to avoid an economic crisis.

BRICS Expands To 54.6% Of World Population By Adding Nigeria

January 19, 2025 Ben Norton, Geopolitical Economy. Resistance Report Africa, BRICS, Finance and the Economy, Global Economy, Indonesia, Nigeria, OPEC

BRICS continues to grow. On 17 January, it officially admitted Nigeria as a new partner country. Nigeria has the world’s sixth-largest population, with the biggest population on the African continent. In addition to being Africa’s second-largest economy, Nigeria is the number one oil producer on the continent. With the addition of Nigeria, BRICS now has 10 full members and nine partners. At the BRICS summit in Kazan, Russia in 2024, the organization adopted a comprehensive plan to transform the international monetary and financial system, by challenging the dominance of the US dollar and promoting trade and settlement in local currencies. Together, the extended BRICS+ group represents 54.6% of the world population.

OPEC: Saudis Aren’t Afraid Of US Anymore

April 10, 2023 M. K. Bhadrakumar, People's Dispatch. Educate! Multipolar World, Oil, OPEC, Saudi Arabia

The shock oil production cuts from May outlined by the OPEC+ on Sunday essentially means that eight key OPEC countries decided to join hands with Russia to reduce oil production, signaling that OPEC and OPEC+ are now back in control of the oil market. No single oil producing country is acting as the Pied Piper here. The great beauty about it is that Saudi Arabia and seven other major OPEC countries have unexpectedly decided to support Russia’s efforts and unilaterally reduce production. While the eight OPEC countries are talking about a reduction of one million b/d from May to the end of the year, Russia will extend for the same period its voluntary adjustment that already started in March, by 500,000 barrels.

The Non-West Coalesces

October 18, 2022 Patrick Lawrence, Scheer Post. Educate! Biden administration, Joe Biden, OPEC, US Imperialism

Something of epochal importance happened in Vienna, where the Organization of Petroleum Exporting Countries, now known as OPEC–Plus with the inclusion of the Russian Federation, convened recently for its first in-person session since 2020. You would not know of this development if you rely solely on the reports carried in our corporate-owned media. The world just took a significant turn into the 21st century. Let us stay abreast of it, leaving those who refuse to see this to their own devices. President Biden, apparently not intelligent enough to understand the emergent new era and indifferent to the interests and aspirations of others, quickly made as big a mess of things as could be made. Last week he threatened Saudi Arabia, which co-chairs OPEC–Plus with the Russian Federation, with “consequences” for what transpired in Vienna.

OPEC’s Body Blow To Biden Presidency

October 11, 2022 M.K. Bhadrakumar, People's Dispatch. Educate! Joe Biden, Oil, OPEC, Russia, Saudi Arabia

The Joe Biden administration is swiftly establishing a narrative that the recent OPEC decision to cut oil production by two million tonnes is a geopolitical “aligning” by Saudi Arabia and Russia. It taps into the Russophobia in the Beltway and deflects attention from the humiliating defeat of President Biden’s personal diplomacy with Saudi Arabia. But it is not without basis, either. Foreign policy was reputed to be Biden’s forte but is turning out to be his nemesis. An ignominious end is not unlikely; as with Jimmy Carter, West Asia may become the burial ground of his carefully cultivated reputation. The magnitude of what is unfolding is simply staggering. Biden realizes belatedly that territorial conquests in Ukraine is not the real story but embedded in it is the economic war and within that is the energy war that has been incubating through the past eight-month period following the Western sanctions on Russia.

Where JCPOA, Oil Conjoin Stands Vis-a Vis OPEC

August 28, 2022 People's Dispatch. Educate! Iran, Oil and Gas, OPEC, Russia, Saudi Arabia

The news that made the headlines on Thursday is that the Joe Biden Administration may have inched closer to restarting the 2015 nuclear deal with Iran. Meanwhile, it escaped attention that Iran’s oil minister Javad Owji said just a day earlier in Tehran following a meeting with Igor Levitin, Russian President Vladimir Putin’s senior aide that the two countries have finalized their talks on “gas purchase and swap” and a contract is going to be signed in Moscow. Owji disclosed that Iran and Russia are negotiating a Memorandum of Understanding (MoU) for developing another 14 Iranian oil and gas fields in addition to the seven for which contracts already exist as decided in July in an earlier MoU, according to which Russia agreed to invest $40 billion in Iran’s petroleum industry.

Putin Launches “War On US Shale” After Dumping MbS & Breaking Up OPEC+

March 10, 2020 By Tyler Durden, Zerohedge.com Educate! Inter-Imperialist Rivalry, OPEC

OPEC+ is no more, after a torrid 24 hours in which Russia overturned the balance of power in the oil world, leaving the members of OPEC+ dazed and confused, shocking Saudi which now faces social unrest with the price of oil far below Riyadh's budget, and - in a repeat of the Thanksgiving 2014 OPEC massacre - sending oil prices plunging by the most since the financial crisis.

Climate Activists Are The ‘Greatest Threat’ To Oil Industry

July 7, 2019 Miyo McGinn, Grist. Resist! climate crisis, Climate Justice, Oil and Gas, OPEC

What’s one of the world’s most powerful cartels afraid of? A bunch of meddling kids. Climate activists and their “unscientific” claims are “perhaps the greatest threat to our industry going forward,” said Mohammed Barkindo, the secretary general of OPEC (the cartel representing 14 countries with 80 percent of the world’s oil reserves) earlier this week. He might have been talking about protesters more broadly, but the rest of his statement suggests that young people are being particularly irksome. Barkindo said some of his colleague’s children are asking them about the future because “they see their peers on the streets campaigning against this industry.”

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