The World’s Mineral Powers Seize Their Moment
Resource-rich countries haven’t always benefited from extraction. Can this time be different?
The factories, which buy cheap crude and turn it into fuel, are struggling as higher oil prices threaten their razor-sharp margins
"You can debate whether that’s going to hit those really low levels in two weeks or three weeks. Once you get to that point, then you’ll see price shoot up.”
Strategic petroleum reserves are declining rapidly as countries release emergency crude supplies to cushion the economic impact of the Middle East conflict.
Europe and Asia are facing fuel shortages. The U.S. is in a fuel deficit. Some experts say the Iran War has caused the largest energy security threat in history. And it's about to get worse.
The White House declared last week that President Trump finally "broke OPEC" after the United Arab Emirates withdrew from the cartel.