OPINION: Limits to the trend of moving away from trade globalisation and towards protectionist self-interest are being tested by the energy crisis.

Soaring costs for petrol and power — mainly triggered by Russia’s invasion of Ukraine — have severely undermined the idea that countries can go it alone.

The world economy is tightly interconnected for good or ill, leaving nations and power blocs to juggle domestic politics and commercial needs with wider responsibilities and impacts.

The Opec+ group’s decision last week to cut production by 2 million barrels per day will help members build revenues to bolster them against fears of a potential global recession.