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Dayton, IA | I read below a couple statements about the virus causing the price of oil to drop. Isn’t oil so low because of an argument between Russia, Saudi Arabia, and the US? The way I understand it Saudi Arabia decided to flood the market then this virus hit and they didn’t even need to overproduce for the price to drop. So even if the virus disruptions end and everyone goes back to driving to work and taking cruises won’t the Saudi’s ramp up production and keep the price down? What would make this oil price war end? Is it a war that will outlast a world virus pandemic?
AJ | |
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Price of oil reason
