The Global Changing Dynamics of the Petroleum Arena Post - Covid
OPEC and non-OPEC countries in the DoC had to take bold measures, enable strong communication channels amongst stakeholders, be adept at adaptability, and work round the clock in cooperation with other nations to bring the industry out of this quagmire.
OPEC’s solid relations at the multilateral level and with global energy stakeholders was invaluable to bring stability to the industry, recover trust of investors, and maintain a steady flow of energy to the global economy. Furthermore, constant meetings helped support strategic decision-making. Instant access to relevant and accurate data also aided decision making in a rapidly changing environment.
Bringing back the industry to its old track requires tireless efforts, a lot of hard work, and multiple compromises from all stakeholders. Only through persistent efforts like these can the industry get back to its towering stature yet again.