OPEC's collusive actions run counter to established international anti-competitive norms at American expense. But by amending the Sherman Act, NOPEC offers a tool to combat these activities.
While the result from Vienna is ostensibly a success, there are obvious cracks in OPEC’s cohesion, as well as in its strategy to tighten up the market.
Responding to a looming period of oversupply, OPEC and its non-OPEC allies agreed to cut production through the first half of 2018 of 1.2 million barrels per day.
Russian sanctions have isolated the country from the West, but they have not changed President Putin’s overall strategic vision.
For the western world, the severing of energy imports from dictatorships and corrupt regimes is not only crucial for geopolitical balance, but an essential tool for human rights and democratic reforms worldwide.