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An oil war is a conflict about petroleum resources, or their transportation, consumption, or regulation. The term may also refer generally to any conflict in a region that contains oil reserves or is geographically positioned in a location where an entity has or may wish to develop production or transportation infrastructure for petroleum ...
Apr 15, 2020 · On Sunday, after a month-long oil war that saw prices cut in half, the conflict’s two main protagonists—Russia and Saudi Arabia—reached a supposed truce, in which oil-producing nations will...
- Joshua Yaffa
On 8 March 2020, Saudi Arabia initiated a price war on oil with Russia, which facilitated a 65% quarterly fall in the price of oil. The price war was triggered by a break-up in dialogue between the Organization of the Petroleum Exporting Countries (OPEC) and Russia over proposed oil-production cuts in the midst of the COVID-19 pandemic . [1]
Oct 7, 2022 · Half a century ago, the Yom Kippur war between Israel and Arab states put a new cartel of oil producers at the centre of global politics. The Organization of Arab Petroleum Exporting...
Feb 28, 2023 · Russia's war in Ukraine is causing a profound and permanent shift in the world's oil markets, creating new geopolitical alliances. Analysts say it's comparable to the 1970s Arab oil embargo.
- Jackie Northam
Mar 9, 2020 · Some say Russia wants prices to stay low to hurt the American shale oil industry or is gearing up to seize a biggersliver of Asian and global oil demand for itself.
Oct 16, 2023 · The 1973 oil embargo shook the global energy market. It also reset geopolitics, reordered the global economy, and introduced the modern energy era. The crisis and the iconic photographs of angry motorists fuming in gas lines are often evoked when oil and gasoline prices spike.
