The Crisis Brewing in Energy Markets | Tracy Shuchart
Forward Guidance
00:00
The Differences Between OPEC and Saudi Arabia
OPEC is the organization for petroleum exporting countries. They produce a lot of the oil that the world consumes. So if they decide to put a lot of oil on the market that will drive down the price. And I actually believe they did that in March 2020. One of the reasons for why oil won't negative, but you're saying that that meeting after oil is going negative is when they said actually we need to be careful here. We can't glut the market anymore. We got to hold some stuff back. so the price goes up.
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