OPEC’s Decline and the End of Its Reign | Virginia Beach News

OPEC’s grip on global oil prices is slipping fast—once the world’s top supply controller, it now faces stiff competition from U.S., Canadian, and Brazilian producers who’ve surged ahead. With Saudi Arabia no longer reliably backing fellow members through tough times, and China’s demand dropping, OPEC’s old playbook of cutting output to boost prices is falling apart. The UAE has already bolted, ramping up production—and others may follow. Meanwhile, refining bottlenecks, especially in Russia, could turn crude into a bottleneck itself. The result? More oil production and refining at home, potentially ending OPEC’s decades-long dominance—and giving consumers a break. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/cb51a2f856728c18