Opec's gamble: Can the global economy cope with higher oil prices? - New Zealand Herald

New Zealand Herald · last updated April 9, 2023 – 8:00 AM

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

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.

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