Who controls oil prices? US or OPEC

Crude oil prices are mainly determined by three factors-Supply, Demand and Geopolitcs. Theoretically, oil prices should be a function of supply and demand. When supply and demand increase, prices should drop and vice versa. However, oil's status as the preferred source of energy has complicated its pricing. The process of fixing the price of oil goes … Continue reading Who controls oil prices? US or OPEC