Big Oil’s Shareholder Payouts Under Threat As Prices Drop

After years of high oil prices and tight control of the market, the tide is turning for OPEC+, and Big Oil may be about to crumple under the weight of its own distribution. The Brent crude benchmark recently fell below $70 for the first time in three years, and this week the International Energy Agency (IEA) announced that they expect prices to keep on falling. “Given the current weak demand and lots of oil coming from the non-Opec countries, mainly from America and others, we may well see downward pressure on the price,” said Fatih…