Althea
Althea told me...........
Even with OPECPUTIN repeatedly cutting production the lower demand for oil still holds steady. For POTUS it's a tightrope because starving Russian exports helps Ukraine, but it also hikes fuel prices. So the best that can happen is India/China stocking up at bargain basement prices. It cuts Russian profits and keeps oil on the market. I think Ukraine was 'urged' to stop hitting Russian fuel supplies, which would normally seem counterintuitive.The price of gas is determined in commodity markets. It is subject to deliberate holding nack of crude Like OPEC had done periodically. It is moved by speculators. It is at the hands of wars taking supply off the market like Putin's war accomplished. It is subjected to algorithms by financial speculators. The president has little power to deal with those problems.
Still, every few months the market drives the price up about $10 barrel. It can't sustain $85 though and it goes right back down. But investors grab profits for a few weeks. After rejoicing about the good old days at the beginning of the Russian war.