Middle East and North Africa Jakob Mieszkowski-Lapping Middle East and North Africa Jakob Mieszkowski-Lapping

OPEC Cutting Oil Production Defines Saudi Arabia's Global Influence

On Oct. 5, the Organization of Petroleum Exporting Countries (OPEC) and its partner nations announced a collective production cut to two million barrels of oil per day, spiking energy prices worldwide. OPEC, primarily led by Saudi Arabia and its Gulf State allies, controls an enormous share of the global energy market and utilizes this leverage with little resistance.

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