Who really influences the price of oil?

Who really influences the price of oil?
 

Opec, the Organization of the Petroleum Exporting Countries, has certainly had its share of criticism over many years.
President Trump recently accused the group of "ripping off the rest of the world" and keeping oil prices "artificially high".
It has sometimes been charged with holding the world to ransom - notably in the mid-1970s when it cut supplies and the price tripled.
But as Opec energy ministers meet in Vienna, does the group really wield that much influence any more?
Controlling production They are being joined by some non-member oil producing countries,... read more

 
7 December 2018 in World News, Views: 49
Source: BBC
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