Loading ...Try to keep in mind, historically they always need to fight falling oil prices. Too many countries produce oil. So keep it higher, they boycott Venezuela or Iran or now its Russia. The MAIN direction is DOWN for Oil. Now its Venezuela getting welfare from Oil.
WE had the oil welfare for a while too, remember?? We were exporting Oil importing money during Trump, making money the USA needed. Sometimes they let oil run high (dropping dollar to 72) like $145/bbl June ’08 crisis to trick producers into over producing.
Then it crashed to $34/bbl. one year later. Globalization in reverse will eliminate a lot of need for oil re 12,000 mile long distance delivery of screwdrivers and can openers. One time it was $18/bbl. It even went below zero one day settled at $6.50? 4/24/20. Instability of pricing with or by people that have NOTHING to sell or buy.
Just voting prices. And the minority REAL buyers and sellers have to hedge their buy or sell orders to get their needs, because of these outsider buffoon suckers cannibalizing themselves like a shock absorber as most of them gleefully lose lots of money.