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Bookmark or Share- Explainer: What is OPEC? - The World Economic ForumIn 2016, OPEC formed an alliance with other oil-producing nations to create OPEC+. The 10 countries now in OPEC+ include Russia, Kazakhstan, Azerbaijan, Mexico, and Oman. The move to create OPEC+ was a response to falling crude oil prices partly caused by a huge increase in US shale oil production since 2011.
- Global Risks Report 2023 | World Economic ForumEven if the economic fallout remains comparatively contained, global growth is forecast to slow to 2.7% in 2023, with around one-third of the world’s economy facing a technical recession – the third-weakest growth profile in over 20 years. 18 This downturn will be led by advanced markets, with projected growth falling to 1.1% in 2023, while ...
- Why oil prices matter to the global economy - an expert explains ...However, it is probably safe to say that there are three key underlying reasons: 1. Booming economic growth driving demand for oil. Two years ago when COVID-19 started, there was a plunge in economic activity and oil demand. Producers were adjusting production levels, but there is only so much one can do without destroying reservoirs or capital.
- Our Mission | World Economic ForumOur Mission. The World Economic Forum is the International Organization for Public-Private Cooperation. It provides a global, impartial and not-for-profit platform for meaningful connection between stakeholders to establish trust, and build initiatives for cooperation and progress. In a world marked by complex challenges, the World Economic ...
- The World Trade Organization. Here's what it actually doesThe WTO’s main aim is to promote free trade by lowering tariffs and other barriers. It does this through agreements negotiated and signed by most of the world’s trading nations. The WTO then polices these agreements to make sure all nations stick to the rules. When trade disputes between governments flare up, it steps in as mediator and, if ...
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