World’s largest oil trader says U.S. has left OPEC in control of global crude prices

OPEC in control of oil prices? I guess we are supposed to believe that. Because after the chaos of 2020 OPEC did not look very good in its claim to dominate the market. And I don’t believe one second that OPEC has any more control over what happens. They are onlookers that play a good game of make-belief. And the US is not one coherent payer. Trying to line a plethora of small and large producers up and make them walk in lockstep is an exercise of herding cats. The market does what the market does.



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