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GECF ought to model itself on OPEC to defeat US terrorism
Feb 25, 2022 20:27What is needed is a collective strategy based on cooperation among the GECF countries on the model of the Organization of Petrol Exporting Countries (OPEC), so that member states, in addition to their policy of providing fuel for economic development, will possess the clout to thwart and defeat the economic terrorism of the US.
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OPEC’s sixtieth anniversary: The pivot of the global oil market
Sep 18, 2020 14:01September 14, 2020 marks the sixtieth anniversary of the Organization of the Petroleum, Exporting Countries or OPEC – almost two thirds of a century of existence characterized by embargo, conflict, and even war. It is an intergovernmental organization of 13 nations founded in 1960 in Baghdad by the first five members (Iran, Iraq, Kuwait, Saudi Arabia and Venezuela) and headquartered since 1965 in Vienna, Austria.
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Clash of titans: Is OPEC+ deal nearing its end?
Dec 05, 2019 18:46Preparing for the Aramco’s Initial Public Offering (IPO) in the past year, Saudi Arabia turned a blind eye to the OPEC+ group members’ violations from the agreed production levels by major producers like Russia and Iraq and shouldered the burden by cutting its own output more than agreed to offset the over-production. However, new signals are emerging which indicate that the kingdom is no longer willing to undermine its production for the sake of higher oil prices.
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Qatar, asserting independence, to leave OPEC in 2019
Dec 17, 2018 20:31Gas-rich Qatar, seeking greater autonomy from its rivals in the Persian Gulf, especially Saudi Arabia, sends out a 'trial balloon', with its decision to leave the OPEC, says journalist Jonathan Gorvett in his article for Asia Times, titled: “Qatar, asserting independence, to leave OPEC in 2019”.