Grayman, a few truths. Supply/Demand and OPECHere are a few truths
1. OPEC is a supplier of product. They have revenue, costs and an expected margin
2. Apple is a supplier of product. They have revenue, costs and an expected margin
I laugh at all these people who talk about OPEC price manipulation. My opinion those who complain have ZERO business knowledge.
They can cry OPEC manipulation all they want but that is just 100% capitalism. They sell a product and should be able to set a price that makes sense to them.
Apple sets a price for their IPhone and not one person on an Apple stock board screams price manipulation.
It is a double standard plain and simple so those people should be ignored.
If we enter a recession demand will most likely still exceed covid and why shouldn't OPEC be able to demand $90/bbl minimum?
Not one bear or short can tell me why they shouldn't be able to.
You don't see Apple lowering their price due to a recession do you? They set a price and if you don't like it don't buy it.
That's just plain business.
Anyone who argues differently has never owned or managed a business (that would include many of these traders/flippers)
That is the bottom line and can't be argued. Sure it pisses off bears and shorts but welcome to capitalism including supply/demand and "expectation of earnings"