Oil Price Thoughts

After several years of regulation after regulation aimed at getting a handle on commodity markets and then going after market manipulation, it always amuses me that no one goes after OPEC – OK, Im not stupid – I get it, but you see my point. There is one huge price manipulator in commodity markets and it is called OPEC. At the moment, they are not in control and everything they do seems to backfire – read, more interest in oil shale than ever before and USA producing record volumes of oil…. If it wasn’t for this cartel of oil producers holding the world to ransom by throttling their oil supply, I wonder where oil would really be priced right now? Actually, OPEC isn’t that good at manipulating supply and hence price anymore. In fighting and cheating by many of its members means that Saudi often gets to be the one switching off or on the spigot. What amazes me is that I have now wrote this article three times in essence – going back to late 2016 – where I argue that there is not much OPEC can really do to drive the price of oil up and yet it has… continue reading
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