Taking action: The Opec logo sits outside its headquarters in Vienna, Austria. The oil cartel has said that it will act to prevent a market ‘relapse’. — Reuters
NEW YORK: When the Organization of the Petroleum Exporting Countries (Opec) and its allies met last month, Saudi Arabia’s energy minister dared oil speculators to test his determination to stabilise global markets.
Now that a resurgent pandemic is threatening demand once again, the moment of reckoning is getting closer.
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