OPEC's power was waning. Soon it may have more sway than ever
CNN
The year before Covid-19 hit, the United States became a net exporter of energy for the first time since 1952, sending a strong message to the rest of the world: The country would not be beholden to foreign oil producers.
But with demand for crude surging as the impact of the pandemic fades, that no longer feels like the case.
OPEC+, which groups the Organization of the Petroleum Exporting Countries and allies like Russia, is once again flexing its muscle. The group's refusal to accede to US President Joe Biden's calls to boost output — a move that would have helped ease upward pressure on gasoline prices — precipitated the decision by the United States and other major energy-consuming nations last week to tap strategic oil reserves.
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