03 Oct, 23

The Geopolitical Forces Driving Today’s Oil Market

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There are three key determinants of how high oil prices will go from here. First, whether it is in the financial interests of the key players who have been pushing them higher to keep doing so. Second, whether it is in their geopolitical interests to keep doing so. And third, what other oil market players negatively affected by rising oil prices can do to bring them lower again. The first determinant is that it remains absolutely in the financial interests of Saudi Arabia, Russia, and the rest of the OPEC+ cartel to keep oil prices going up –…

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