3 ms·
Yeah, what I was trying to say is individual suppliers will drop out of the market as the price of oil drops. That in turn reduces the supply. For Oil Sands, th
by ogre_codes 6y ago
Yeah, what I was trying to say is individual suppliers will drop out of the market as the price of oil drops. That in turn reduces the supply. For Oil Sands, that's roughly $43. Shale oil is similar. Every time the price drops, the number of suppliers drop.
OPEC will fight to keep oil prices up by limiting supply when they can, since most of the governments in the Middle East are run on oil profits, they need to!