Our View

OPEC+'s Don Quixotes

Oil ministers seem fixated on speculation in oil. Like Cervantes’ Don Quixote, they continue to tilt against financial markets every time prices fall, blaming speculators for the decline. Read more here.

Has Oil Lost Its Appeal?

Those with money to invest for profit seem to have found options more appealing than oil. As the graph shows, the net long position of money managers is now less than half of what it was two years ago. For more on the investors' exit, see Our View on this page.

Greedflation, Speculation, and Stupidity (May 29, 2023) -- Greedflation is pushing up petroleum product prices and refiner profits.

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