Home Insights As anticipated by our team, OPEC is exploding…

As anticipated by our team, OPEC is exploding…

Russia’s recent defection to OPEC+ is causing oil prices to plummet and causing the collapse of OPEC, according to the Wall Street Journal. These latest twists and turns in the oil crisis and everything related to it are in line with our anticipations, as for example this one dated June 2018:

For the past two years, we have been witnessing the meticulous dismantling of the world order that has prevailed since 1945… As we have anticipated many times, even OPEC is now imploding. That said, it was revived from its ashes in a very artificial way, namely by a non-member producing country: Russia. And, as GEAB teams have been predicting for several issues, by announcing on 11th June that it will increase its production, Russia has launched a movement of uncapping production that will end this swan song named OPEC+. It is already closely followed by Saudi Arabia… All this shows the obsolescence of OPEC, an organisation that is supposed to bring together the oil-exporting countries, but does not include, for example, either Russia or the United States, while including irreconcilable enemies (Iran, Saudi Arabia). Thus, despite the intervention of non-OPEC member countries, it is failing to bring balance and stability to the desired prices of both importers and exporters. However, pending the deployment of a new model for stability in the energy supply (which we analyse below as approaching), this new shock on one of the institutions of the preceding world order makes it necessary to ask if there is anything solid enough for the world to hold on to.” (Excerpt : GEAB 126 / Jun 2018)

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