Quote from: TravelMug on April 02, 2022, 02:24:53 AM

Quote from: Sithara007 on April 02, 2022, 02:19:18 AM

Quote from: Pejoh Asu on April 01, 2022, 04:09:44 AM

Rumors that the price of oil must rise is an old thing that I often hear, of course OPEC hopes to regulate prices with supply and now many OPEC countries are leaving because they can't produce anymore, and this is a sign that a lot of oil is getting more difficult, I'm sure oil prices will continue The increase is not because of OPEC's appeal but the world's demand for oil continues to increase, the USA has announced that oil demand reaches more than 15% of world production so that oil prices will continue to rise.

Irrespective of whatever statements they make, the OPEC bloc has no real reason to accept lower prices for oil. Right now countries such as Saudi Arabia are benefitting from this situation in two ways - first of all they can sell increasing amounts of oil, due to the embargo on exports from Russia. And then, they are getting more $$$ for each barrel of oil that they export. Because of stupid policies from the Biden administration, it is the ordinary people from countries like India and Russia who are suffering.

Not just India and Russia, but the whole world are now affected by the embargo on oil against the Russian. And as you have said, someone will have to benefit and it will be Saudi or at least some US ally in the Middle East. So it's going to be a battle of attrition, it looks like Putin is holding up and now putting pressure on US and it's allies regarding the war after a month.

I think that what can drive oil to reach 300USD per barrel is scarcity or what is usually called the Law of Supply and Demand, the more demand there is, the greater the supply and therefore prices rise, and if the war continues as it goes it is likely that the price will increase much more, OPEC can simply calculate a trend, but world events and fundamentals can result in the price continuing to increase, not only of oil, gasoline, oils and everything you have What to do with oil derivatives, in some cases gas is another of the problems that we have and especially in Europe, I think that the sanctions are going more towards Europe than for RUSSIA itself.