What is the oil price? Who decides it?

Oil companies pocket billions of dollars?, Is there a limit to the outrageous prices oil?

3 Responses to “What is the oil price? Who decides it?”

  1. stevebugge Says:

    Oil prices are set mostly by Commodity Traders on the futures market. Basically it it is a market where investors, suppliers, and buyers trade commodities futures (contracts to deliver a specific amount of a commodity on a given date)Check out the New York Mecrantile Exchange to learn about commodity trading. And to answer the second question there is no limit, it is whatever people are willing to pay.

  2. Sandy Says:

    i don’t know exactly what the going price of a barrel of crude oil is but i think Mr. Bush sets the prices

  3. dcarcia@sbcglobal.net Says:

    idon’t think that there is any end in sight as long as Bush is in the white house.