There is consensus in the oil market that it is the increasing US output that is leading to a glut. That brings us to a question – Is US controlling the oil prices?
Gaurav Sharma, Business Editor and Oil Analyst at IB Times UK says US is controlling via the private enterprise and like OPEC members it can’t make a coordinated effort to control or move prices.
Sharma says the real problem child is Russia – Watch the full segment for details
US is a buffer producer, Saudi is still a swing producer
Need Saudis to make up their mind (markets confused by the mixed sound bites)