Putin wants a ‘Dark OPEC’ to control global oil and gas markets
Russian President Vladimir Putin, unencumbered by an environmental vision of a carbon-free economy, is engaged in a global effort to unite authoritarian regimes with significant fossil fuel reserves.
Putin envisions a kind of “Dark OPEC” that controls enough of the world’s crude oil and natural gas to manage supply, dictate prices and engage in political mischief.
For example, Putin has been casting a financial lifeline to Venezuela’s strongman President Nicolas Maduro in return for a significant share of several Venezuelan oil and natural gas fields. In addition, Venezuela has reportedly signed over a major share of Citgo, a U.S.-based but Venezuela-owned oil refiner, pipeline operator and marketer, as collateral for Russian-provided loans.
https://thehill.com/opinion/energy-environment/425050-putin-wants-a-dark-opec-to-control-global-oil-and-gas-markets