OPEC Could Win Big As Supermajors Fend Off Environmentalists

Environmentalists and shareholders concerned about the risks of investing in oil in the energy transition were not the only winners of last week’s historic rebuke of Big Oil by investors and society.  While the growing discontent with the largest international oil firms resulted in stinging defeats in Exxon and Chevron’s boardrooms and in a Dutch courtroom where Shell was ordered to cut emissions more than it has pledged to, OPEC was quietly sitting on the fence and contemplating its next short-term move.  While environmentalists…