Italy’s former PM Mario Draghi suggested it first, then U.S. Treasury Secretary Janet Yellen took up the idea and built on it. What if, the idea was, large oil importers united against oil producers? Many from the analytical field were skeptical. With oil demand where it is, the global oil market was effectively a sellers’ market, which meant producers had a greater say in where prices go than buyers.
Limitations to large producers’ spare capacity contributed to this greater say, putting oil buyers in a risky…Can A Buyers Cartel Challenge OPEC?
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