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WSHazel

(781 posts)

5. A common misconception about OPEC

Reply to Boo1 (Reply #4)

Mon Mar 2, 2026, 02:55 AM

Mar 2

Is that it is a strong alliance that works cooperatively. Not actually the case, most of the time. Historically, the members cheat on their quotas, especially when prices are low because oil suppliers need the revenue.

Every member of OPEC hates Iran, and many Sunnis consider the Shiites to be infidels.Iran being cut off from selling oil just means more for everyone else.

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Highlight:

Oil prices surge, cross $80 after US-Iran conflict engulfs Middle East, Strait of Hormuz [View all] Yo_Mama_Been_Loggin Mar 1 OP

Strange move WSHazel Mar 1 #1

Well Boo1 Mar 2 #4

A common misconception about OPEC WSHazel Mar 2 #5

Their feelings on Iran Boo1 Mar 2 #6

WTI (crude oil) futures only up $2.67 now Disaffected Mar 1 #2

The market shrugged WSHazel Mar 2 #7

Can I take my extra hundred bucks and multigraincracker Mar 1 #3