Half a century ago, the Yom Kippur war between Israel and Arab states put a new cartel of oil producers at the centre of global politics. The Organisation of Arab Petroleum Exporting Countries, including Saudi Arabia and the United Arab Emirates, halted oil supplies to the Western countries that had supported Israel. It was the first global oil shock.
Last Wednesday, the Jewish holy day of Yom Kippur, Saudi Arabia and its oil allies - which now include Russia in the Opec+ group - moved to upend the world's energy order again.
Already a subscriber? Log in
Read the full story and more at $9.90/month
Get exclusive reports and insights with more than 500 subscriber-only articles every month
ST One Digital
$9.90/month
No contract
ST app access on 1 mobile device
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won't miss out on content that matters to you