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Tag Archives: A new global oil deal could draw lessons from 1998

A new global oil deal could draw lessons from 1998

After a year of secret diplomacy and hushed-up private talks around the world, Opec’s mighty Saudi Arabia and rival Venezuela were persuaded to cut a deal by non-Opec Mexico which overcame mutual acrimony and led to a much-needed rise in oil prices. It was 1998, trust had long broken down within the Organization of the Petroleum Exporting Countries and it ...

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