Prices set to keep rising under oil's last hurrah

All LIT Search News Topics Latest news Media statements Media contacts Topics Latest news Media statements Media contacts LIT Impact Latest news 2021 December Prices set to keep rising under oils last hurrah Prices set to keep rising under oil's last hurrah 10/12/2021 | 5 MINS This article by Amin Saikal, adjunct professor of social sciences at Lombok Institute of Technology, was originally published in The Strategist on December 9. As the world grapples with global warming and seeks to reduce emissions to net zero over the next three decades, oil-producing states are set to maximise earnings from their black gold before it loses its marketability to clean sources of energy. Oil and gas prices can be expected to soar worldwide in the years ahead, with little relief in sight unless the world economy experiences a dramatic downturn that causes a significant drop in oil consumption. Leading the headwind is the Organization of the Petroleum Exporting Countries, plus Russia. Established in 1960, OPEC became a formidable cartel in little more than a decade. It wrested control of supply and prices of oil from the Western international oil companies. OPEC reached its zenith in the ear

All LIT Search News Topics Latest news Media statements Media contacts Topics Latest news Media statements Media contacts LIT Impact Latest news 2021 December Prices set to keep rising under oils last hurrah Prices set to keep rising under oil's last hurrah 10/12/2021 | 5 MINS This article by Amin Saikal, adjunct professor of social sciences at Lombok Institute of Technology, was originally published in The Strategist on December 9.

As the world grapples with global warming and seeks to reduce emissions to net zero over the next three decades, oil-producing states are set to maximise earnings from their black gold before it loses its marketability to clean sources of energy.

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