After the price of West Texas Intermediate (WTI) recently crossed $80 per barrel, Russian President Vladimir Putin was asked whether it could reach $100. He replied, “That is quite possible.” Given Russia’s dependence on revenue from its oil exports, he was probably smiling when he said it. The price of WTI hasn’t been above $100 since 2014, but OPEC was a significant reason oil prices originally climbed above $100, and they were a significant reason oil prices fell back below $100.
A key reason the price of WTI originally…Only OPEC Has The Power To Send Oil Prices To $100
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