Quote:
Originally Posted by ChrisG.
Nick, unfortunately the producers of oil can do whatever they please with the price of oil. It is, after all, their product.
Chris
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It's not the producers who are setting the price but the market. Supply currently exceeds demand and the price shouldn't be anywhere near the $140+ that it currently is. OPEC feel its price is more likely in the $70 a barrel range. It is speculators who are driving the market price on a possible/maybe event like an US/Iran war.