5 ms·

Oil is a totally different beast. Simple supply demand economics doesnt work due to geopolitical games that OPEC+ plays.

• tonyedgecombe 7y ago
  OPEC hasn't been effective at controlling prices for some time now.
  • objektif 7y ago
    Oh yeah? Have you been watching any news in the last two weeks?
    • deleted 7y ago
      [deleted]
    • mercutio2 7y ago
      Every supplier in a marketplace has the ability to lower marginal prices in a price war. Only effective cartels can raise prices at will. And OPEC’s power to do this is pretty clearly diminished, if not destroyed, by expanded US and Russian capacity.
      • objektif 7y ago
        Again you must be sleeping last two weeks. Saudis single handedly destroyed oil prices.
        • mercutio2 7y ago
          The Saudis most certainly did not raise prices, which is the point I'm making. I'm well aware that the lowest cost producer can lower prices at will.