Trump exposes Opec’s diminished market power

The actions by Trump and Opec – as well as the market reaction – highlight how much power dynamics in the energy market have shifted. — Reuters

IS the Organisation of the Petroleum Exporting Countries’ (Opec) iron grip on the oil markets a thing of the past?

Events over the last 24 hours suggest power in the oil market has shifted to Washington from Riyadh – in part because of US resident Donald Trump and in part because of longer-term shifts.