Oil prices to rise due to new cartel

[frigidweirdo]

Oil jumps amid talk of producer action to support prices

So, OPEC was weakened by the US invasion of Iraq and the bombing and ousting of Qaddafi in Libya, but it seems the Russians have put up with these low oil prices for too long and are going to attempt to bring oil prices higher again by forming a cartel which would be OPEC + Russia and maybe others.

Watch oil prices rise, don't blame Obama, don't blame any US president, they don't have the power to change this.

 

[tyroneweaver]

FW fires a preemptive strike to cover for his sorry ### obama

 

[Onyx]

FW fires a preemptive strike to cover for his sorry ### obama

Remember these?

 

[bripat9643]

Oil jumps amid talk of producer action to support prices

So, OPEC was weakened by the US invasion of Iraq and the bombing and ousting of Qaddafi in Libya, but it seems the Russians have put up with these low oil prices for too long and are going to attempt to bring oil prices higher again by forming a cartel which would be OPEC + Russia and maybe others.

Watch oil prices rise, don't blame Obama, don't blame any US president, they don't have the power to change this.

Since OPEC was such a colossal failure at keeping oil prices high, what makes you think this new cartel will perform any better?