Oil Price and OPEC
Jun 18, 2009 – A month ago, OPEC, the oil cartel had seen in the past year that the price of oil had gone up to $150 / barrel and down to $30 / barrel. At that time they said they were beginning to see the light at the end of the tunnel and expected the price of oil to increase to $75-80 soon. The day they opined that, oil went up $1.78 to $65.23. In the last 75 days, oil has gone up from $33.75 to $71.25. OPEC will soon see its target reached. Is there any manipulation going on? Please leave your comments here.
