I Wondered If Oil Would Finally Jump In Price

[genxlib]

4. To some degree times have changed

Back then, oil was seen as a commodity to be rationed out in limited quantities to keep prices high. There was plenty of future value in keeping it in the ground while removing just enough to feed the beast at artificially constrained pricing.

Now, I think the oil producing nations see that the world wants to shift away from fossil fuels so there is more of an impetus to sell while they can.

That is not to say that the disruptions won't cause issues. But I am not sure that OPEC has the kind of stranglehold on limiting supplies that they used to have.