3 ms·
We are at the point where Brent prices were at the levels of 2019. It's clear that this is not enough or acceptable. We have a market that is barely an oligopol
by eftychis 4y ago
We are at the point where Brent prices were at the levels of 2019. It's clear that this is not enough or acceptable. We have a market that is barely an oligopoly -- effectively functioning as a monopoly.
We (everyone outside of OPEC (and Russia) need to place more resources on alternatives.
The funny thing is the only country selling their oil at a steep discount is Russia (to China).
I am curious if this move is going to spawn again OPEC states leaving the monopolistic group so they can sell more -- eg Ecuador.
(https://en.m.wikipedia.org/wiki/OPEC#OPEC+ https://en.m.wikipedia.org/wiki/OPEC#OPEC+)