RE:RE:RE:RE:RE:RE:What if oil falls to $60?Actually in spring of 2020 it was a p!ssing match between SA and the Russians when the Russians got caught not following their quota, so SA tried to punish them but I think it got a bit out to control.. even to the Saudi's.. I'll guarantee that won't happen again.. ;-)
Anschutz wrote: Using your logic please explain what OPEC did in the spring of 2020 to protect the price of oil. If you think OPEC will simply cut production to prop up the price, you need to look in a mirror to see who is truly naive. OPEC is just as concerned about market share as they are about paper manipulation, economy, OPEC/non-OPEC production.
dogatcat wrote: How naive are you? The biggest manipulator of the oil market is OPEC+. If they feel they are not getting the amount they want per barrel of oil, they will cut once again. That is what they do to make sure the prices stay at the level they deem acceptable.
Oil is constantly being manipulated by governments around the world but especially by the US government. Biden is getting crushed in the polls. Lower gas prices can't hurt with his re-election campaign.