They always have, that is the reason the middle east is so crucial for the USA economy. But extra supply in the USA has always been a downward force on prices, with the middle east having to reduce production to keep prices from dropping. In 2014 the middle east, especially Saudi got tired of being the ones reducing output and opened the flood gates that crashed the oil price and put a lot of US shale producers to the wall.
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Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
---|---|---|
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Price($) | Vol. | No. |
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1 | 86210 | 0.072 |
4 | 542910 | 0.071 |
9 | 580439 | 0.070 |
1 | 140845 | 0.069 |
5 | 770000 | 0.068 |
Price($) | Vol. | No. |
---|---|---|
0.073 | 765999 | 4 |
0.074 | 1022630 | 6 |
0.075 | 1012937 | 8 |
0.076 | 1010000 | 5 |
0.077 | 900000 | 3 |
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