Weaker OPEC may trigger higher oil price volatility

US President Donald Trump’s military forays in Venezuela and Iran have weakened OPEC more than anyone thought possible just months ago. The White House may view this as a major win, but it may ultimately leave both the US and energy markets worse off.

For decades, the Organization of the Petroleum Exporting Countries, under its de facto leader Saudi Arabia, has exercised outsized ​influence over oil markets, dialling output up or down by tapping spare capacity to manage prices and defend market share.