c/canada · by Sunshine@lemmy.ca · 1yThree years of roaring oil prices could be coming to an end https://www.cbc.ca/news/canada/calgary/oilpatch-2024-prices-gasoline-1.7373407?cmp=rss5 points · 2 comments · view on lemmy.world
2 Comments
avidamoeba@lemmy.ca · 4 pts · 1y
Wait, given that OPEC controls the market price, especially given Saudi's capacity to increase/decrease production, why would we expect them to let prices fall significantly?
EndOfLine@lemm.ee · 2 pts · 1y
Because the reason oil companies have been making record profits is because production was not cheaper?
Is that the argument being made? Oil faced with higher costs = higher profits,therefore lower costs = lower profits?