In November 2016, OPEC’s obituary was ready, and geopolitics was a leading coauthor. If two of the most important OPEC members—Iran and Saudi Arabia—lacked diplomatic relations, how could they trust each other to adhere to production quotas?
Last month the Organization of the Petroleum Exporting Countries (OPEC) enacted an agreement to cut oil production to shore up global prices.
The recent rise of Dubai and the Persian Gulf in the global consciousness has been profound. Once a small, unknown fishing village, Dubai has turned into a powerful megalopolis recognized worldwide for its skyline, shopping, business dynamism and shipping.