World Economic Update

World Economic Update

Top Stories on CFR

Oil and Petroleum Products

Western leaders have long criticized OPEC’s power to raise oil prices, but the bloc’s influence is on the wane as U.S. oil production has soared and alternative energies have come to the fore.

Russia

A move to block sanctions relief has been defeated, averting a likely spike in global aluminum prices but also spotlighting the tough road ahead for Congress in shaping policy on Russia.

United Kingdom

Brexit supporters argue that the EU threatens sovereignty and stifles growth, while opponents counter that EU membership strengthens trade, investment, and the UK’s standing in the world.