https://www.rt.com/shows/sophieco/331693-oil-prices-opec-agreement/
3 replies (most recent on top)
Does this consultant work for Boston Consulting Group?
The fair price for oil is governed by the same rules as everything else. Supply and demand. Demand is down and supplies are up so the price goes down. This is basic economics folks. When profits are high new entrants will enter the market and drive profits down to a normal profit level. So we see some producers shutting down. The only reason the market was so high previously is artificial manipulation of the market by the Saudi's. Oil is produced in too many locations now that OPEC cannot control thus there leverage to manipulate the market is greatly diminished. Finally the oil rich countries will have to compete.
Russian pipe dreams and a mad Arab Ph D