opec and big oil have been trying and succeeding in cutting back production
at a time where the price of a barrel is already high at 78.00 brl.
Pulling from the reserves is practically a bail out for oil, who have no incentives to drop prices at the pump. The fact that in 2020 and early 2021 the lower prices helped the citizens to keep money in their pockets to support themselves. Now that the population is on the move again, the oil companies are raping us with inflated artificial prices.
As well in my opinion most if not the lions share of the profits go to a minority of major shareholders and exec's. Their R&D and building budgets are well covered all along.
Dubai's sheik is building astronomical elitist buildings and whole islands for the rich but what about it's average citizens. They get reduced prices at the pump but I'm not sure anything else. But I didn't research this last sentence yet. And I'm not asking for that research either, it's just an opinion.
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