Home /

Opec’s gamble: Can the global economy cope with higher oil prices?

Financial Times
9 mins to read

As a historic price crash in crude brought turmoil to the global economy three years ago, Donald Trump led a broad effort by western countries to cajole Saudi Arabia and Russia to slash output and prop up the oil market. The Opec+ cuts that emerged spared the US shale sector from collapse. Trump praised Riyadh and Moscow for their help.

Three years on, such co-operation has evaporated. The Kremlin’s war in Ukraine has led Europe to purge Russian energy from

Save