Economics 101-Supply & Demand for Dummies

Orlando FL

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First and foremost-Presidents DO NOT CONTROL OIL PRICES! Oil is a commodity, and prices are a result of Supply & Demand. More demand, and less supply: the price goes up. Less demand, and more supply: the price goes down. OPEC is the major determinant of how much oil is pumped to supply the world demand. They reduced the world supply, crude oil went up. See the last years chart, crude oil has doubled in price. “Crude oil prices are determined by global supply and demand. Economic growth is one of the biggest factors affecting petroleum product—and therefore crude oil—demand. Growing economies increase demand for energy in general and especially for transporting goods and materials from producers to consumers.” https://www.eia.gov/energyexplained/oil-and-petroleum-products/prices-and-outlook.php China is the primary driver of the world oil market at the moment. They are expanding their economy and their demand for oil is causing the surge in price because they’re buying more. Your grasp of economics is non-existent. However, your grasp of propaganda and disinformation is spot on! I post facts backed up by source material. You post spew, backed up by racism, propaganda, bigotry and lies.