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24min chapter
What’s Driving the Fall in Oil Prices? | Rory Johnston
Hidden Forces
OPEC's Attempts to Control Oil Prices
This chapter discusses the history of OPEC's attempts to control oil prices, focusing on the 1980s when they gave up on price control and the impact it had on the market. It also explores the current situation with OPEC withholding oil production and the question of how long they can continue to subsidize US shale. The chapter ends with a discussion on the potential resilience of US shale in a market share war and how OPEC now has more ammunition to control market share.
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