Here’s What Drives The Price Of Oil | CNBC

President Donald Trump's decision to pull out of the Iran nuclear deal could rattle the oil market, but there's a lot more to it than just that. There are many factors in play when it comes to how prices are determined. Crude is influenced by three major factors: supply, demand and geopolitics - and all three play a big role in how much Americans pay at the pump.

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Here’s What Drives The Price Of Oil | CNBC

[mnm]

Damn it man I started to clean my monitor and found out its not dirt

[rogerevans]

Send this to Joe Biden so he can understand how oil prices work

[SA_Rocket]

I like how Saudi Arabia drown the market with oil when other oil producers start acting up lol

[kylequest]

COMPLETE PROPAGANDA!!! What drives prices is the Capital Class and it's speculation on the Commodities Markets. Supply and Demand have little meaning when there's middle men trading barrels of oil dozens of times before it's actually used.

[chandakatotobweiii]

Please do one on the London metal exchange

[HJB._]

The music makes it impossible to accept this video

[truthhurts]

Consumers set the price of gas and everything else… during the height of the pandemic gas prices were low because people where not driving as much if more people are using electric vehicles the price of gas will go down…

[uncledarren]

Greed... that is all that drives them.

[brandonr]

This is why we need companies like Tesla more than we know.

[phiwo]

The music is so distracting from such good content

[DavidRamirez-fiev]

And global warming isn’t being worried because oil is so valuable

[maxplank]

British frigates are escorting oil tankers to England ? add 2% to price of oil if this is necessary

[jeremylakenes]

Why not just keep pumping and pumping? Drive the costs down?

[justiceknight]

What about production cuts which happens a lot, it's all a manipulated racket!!

[christinewelch]

Baloney. Prices are controlled by the futures market. How do I know this? As a small oil producer, the price I get is completely determined by the monthly average WTI price. I have no control over prices. Supply and demand are artificial numbers supported by statistics from the IEA and EIA. Furthermore, a market dominated by government oil companies cannot be fairly evaluated because they have no profit motive.

[SuryaSpeak]

In other way Russia making a smart move. I believe there is not much loss for Russia because they buying oil from Venezuela and Iran., Where as Saudi making their own. It's real a oil price war. 👍

[danielfronc]

I got nothing from that which I didn't already know. However, I'm sure that was a good primer for others.

[joesmith]

SOMEONE EXPLAIN TOO ME SOMETHING PEOPLE BUY MILLIONS OF DOLLARS OF GAS A DAY SO WHY DOES IT HAVE TOO BE HIGH AT THE GAS PUMP ITS LIKE WALMART HAS LOW PRICES CUZ THEY SELL A LOT PEOPLE BUY GAS CONSTANLY SO A LOT OF MONEY IS BEING MADE RIGHT? IS IT GREED?

[whoispriest]

Ok so i have a question, fuel, for cars is a commodity, like sugar wheat, barley silver gold. The prices of a commodity is managed so that there are not massive fluctuations on price. Why is it, fuel is allowed to be set higher sell price on a weekend, and why is it illegal to start an independent fuel supplier and sell for your own prices, in order to establish competition, which currently fuel price fixing between biggest suppliers is common practice. If canadian dollar went up to 4$ canadian on a weekend would you not suspect some bulshit was going on behind scenes? we'll think about that. Why is fuel aLLOWED TO BE PRICE MANIPULATED? AND WHY ARE FUEL SELLERS NOT ALLOWED TO SELL AT ANY PRICE THEY WANT?

[royrice]

Boom and busts inevitable. Yes, the bust is coming. Just be prepared and you can ride it out!! 😎😎😎