Quote:
|
Originally Posted by ninty
Opec members:
Venezuela, Nigeria, Algeria, Libya, Saudi Arabia, Iraq, Iran, Indonesia, Kuwait, Qatar, United Arab Emirites
These countries basically collectivley control oil prices.
OPEC has a monopoly over oil supply.
There will never be too much oil being produced at one time. This would cause prices to drop and reduce profits. It goes for anything. Why would you put out 1,000,000 widgits at once when you can put out 5,000 and raiise their prices.
|
Thank you ninty.
Also gas is supposed to rise 25 cents during the summer.