In the Media

In this opinion piece for the Los Angeles Times, Prof. Simon Johnson suggests that the Organization of the Petroleum Exporting Countries’ (OPEC) decision to reduce production quotas, which was seemingly done in an effort to support Russia, will drive up oil prices worldwide. “The likelihood of Russian defeat in Ukraine, increasing daily with Ukrainian advances, will change the global picture for oil considerably, and OPEC members need to decide whose side they are on for what comes next,” writes Johnson.