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Wasn’t the issue that they put a cap on production to keep prices higher?
by colechristensen 4y ago
Wasn’t the issue that they put a cap on production to keep prices higher?
- Waterluvian 4y agoOh. I’m not aware of that. That would be a contentious thing to do for sure.
- fabianhjr 4y agoA reserve to stabilize prices not unlike what many oil-dependent and oil-producing countries do. (Oil-producing countries reduce sales if prices drop, oil-dependent use their reserves if prices rise)
- gruez 4y agoIt's also cartel behavior and detrimental to the wider economy. Just because "many oil-dependent and oil-producing countries" does this doesn't justify it.