Opinion: Coronavirus has taken its latest victim – the world’s largest oil cartel

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Opinion: Coronavirus has taken its latest victim – the world’s largest oil cartel
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  • 📰 The Independent
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Since 2009, oil prices started their gradual decline, signalling the end of the fossil fuel era. But it was Covid-19 that eventually destroyed the old world, writes Vladislav Inozemtsev

We now know what was at stake - as well as the outcome of these 20-hour debates between leaders. Formally, the global oil output was cut by 15 million barrels per day in a bold move to balance struggling production with disappearing demand.

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