Crude for Thought: Are More Prisoners and More Guards Setting up the Next Oil Price Cycle?
Today’s oil market contains not one, but two prisoner’s dilemmas: traditional OPEC+ members, policed by Saudi Arabia, and a new dilemma with U.S. shale producers, policed by their investors. This boosts the prize for cooperative behavior but also raises new risks. Energy fellow Mark Finley explains.
Mark Finley June 28, 2021