When will the oil market crumble?
In the past couple weeks OPEC members, led by Venezuela and Saudi Arabia have attempted to talk back up the price of oil. Besides the obvious why are they doing this?
The last time OPEC made such an active roile in trying to talk up prices was at the start of 2016 when oil prices fell below $30 per barrel.
“The price itself is irrational if you ask me,” Khalid al-Falih, the chairman of the Saudi state oil company Aramco and one of the Kingdom’s most influential energy figures, said at the World Economic Forum annual meeting in Davos.