Who controls the price of crude oil?

"But this is not collusive behaviour on the part of producers and, really, if we're talking about oil companies, and we're talking about Canadian oil companies in particular, they absolutely do not have the ability, if they wanted to, to affect global prices," Tombe said.

Even though OPEC accounts for a sizeable chunk of global supply, the majority of crude oil is produced by non-OPEC nations, Lee stressed. The Calgary-based senior fellow with the Macdonald-Laurier Institute said in a phone interview on March 24 that prior to the COVID-19 pandemic, the price of oil was relatively low as the U.S. went from being a net importer of oilThe pandemic then greatly reduced demand for oil and companies slashed their production budgets, Exner-Pirot said.

"The short answer is we're going to have an energy crisis. There's no way around it right now, except for a collapse in demand from another pandemic," Exner-Pirot said. Everyone is at the mercy of international oil markets, Antweiler said, and commercial entities can simply pass on higher prices to their consumers.

However, the experts CTVNews.ca spoke to agree that people with low to modest incomes would feel the impacts much strongly.

At the moment it is USA military destabilizing and sanctioning other large oil producers so price is high enough to sell expensive to produce Fracked Shale oil Paying Sierra Club and others to keep Canadian Oil Landlocked. They don't care about consumers ONLY selling Frack-Oil

North American politicians who don’t support domestic energy and security

mostly speculatrs by try 2 qik flip make greed driven profits then B big oils direct result b of's their own in stock market activity's then 4 is OPEC if quota's per barrel outputs also R factoring just as much they B R4 in of NYSEX equasion 2s it's combo domino's efffect

Certainly not the consumer.

Pierre Pollywassisname told me the WEF does, and the only way around this is to be able pay in bitcoin, or NFT, or whatever comes to his diseased malfunctioning brain. Too subtle?

The oil mafia and the federal mafia 😂

The Pope.

I know who controls a large part of gas prices.. The GOV with TAXES like Trudeau's brand new carbon tax we all get to enjoy

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