Replies to post #136168 on ajtj99's Market Pulse

[ajtj99]

Their quotas are just wishful thinking. They all cheat, and they all need to pump as much oil as possible to maintain their welfare economies.

[Gizmo]

I remember that period. There was a price war in the Middle East as everyone was cheating on quotas except the Saudi's. The Saudi's being the largest producer with plenty of excess capacity opened the foodgate to teach the others a lesson. It worked, at least for a time, strengthening OPEC.