This massive state intervention took the form of interest rate manipulation to offset the characteristic tendency of the capitalist economy to overheat (‘boom and bust’), petrodollar recycling in arrangement with OPEC nations (principally Saudi Arabia, which perhaps helps to explain why they..…
Venezuelan leader, accused of running OPEC of million people like dictatorship and wrecking its economy, has defied them, saying Europe's ruling elite are following President Donald Trump's agenda.. ..…
Consequently, prices have fallen 15% since June, and Saudi Arabia has cut production by 400,000 barrels day — providing further evidence that OPEC no longer has the power to set prices... ..…