How I Made $2,000,000 Trading WTI -Part Two

OPEC vs US

• Oil was first commercially extracted and put to use in the U.S.
• The United States controlled oil prices for a majority of 20th century.
•  The supply and demand for oil rose with the discovery of oil in Iran in 1908 and Saudi Arabia during the 1930s.
• OPEC increased the influence on oil price leverage because of American reliance on imported oil.
• OPEC controls oil prices through its pricing-over-volume strategy.
• lThe Iran-U.S. nuclear debate could also impact oil production.
• The U.S. is the top producing nation, and the top exporters are mainly the members of OPEC. 

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