Discussion » Questions » Business » Prices go up when oil production goes now. Why don't all oil producers force high prices by putting a permanent cap on oil production?
RosieG

Prices go up when oil production goes now. Why don't all oil producers force high prices by putting a permanent cap on oil production?

Posted - November 20, 2016
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Responses


  • 3907
    Hello Rosie:

    They tried it once with OPEC..  But, it fell apart because oil producers don't act in tandem.

    excon
      November 20, 2016 6:04 AM MST
    1

  • 113301
    Wouldn't it benefit them if they did? I read that there was some discussion going on currently among the oil producers about putting a cap on it and that got me to wondering why they didn't do that all the time anyway. Now that would be illegal in the US right? Wouldn't that be tantamount to price-fixing excon? Thank you for your reply and Happy Sunday! :)
      November 20, 2016 8:03 AM MST
    0