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RE: High Petrol/Gas Prices Coming - Don't Blame Big Oil

in #energy6 years ago

There is plenty of supply waiting to fill any gaps. OPEC has been trying to slow/cap production and the Russians have slowed some of their producers also in order to keep the price where it is. If there is an interruption, they will fill it to keep equilibrium. The goal for them is to keep the U.S. shale industry waiting for prices to hit $100 again. At that point the U.S. starts producing large amounts profitably and again we go back down to equilibrium. Iran has buyers that don't abide by sanctions anyways so they won't affect the market. Sorry. long answer. Thanks for a great question. I appreciate it.

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