Contrary to popular belief, oil prices aren’t determined by any one country, company, or cartel. Instead, they’re the product of a global tug-of-war among producers, traders, and policymakers. It’s a market defined not just by physics, but by psychology, where the actions of a few key players can ripple across the world in a matter of hours. On November 2nd, OPEC+ announced a modest 137,000 barrel-per-day production increase for December, followed by a pause on further increases in the first quarter of 2026. The move surprised…

via Oilprice.com https://ift.tt/CrR4ojB