Interestingly, I don’t think that’s going to happen. OPEC could decide to ramp up production if USA lowers theirs. Demand for oil isn’t rising the way it used to due to alternatives not only becoming viable but actually cheaper as well.
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Kyrgizion@lemmy.world 10 months ago
acosmichippo@lemmy.world 10 months ago
OPEC will reduce production if the price of oil goes too low.
sidtirouluca@lemm.ee 10 months ago
yea, probably so
Tiger@sh.itjust.works 10 months ago
In a recession with lower demand and everyone hunkering down oil prices probably decline.