Who sets the price of a barrel of oil?

OPEC, which is mainly muslim arab nations. If you are fed up with the high price of gasoline switch to ethanol like I did 2 years ago.Who sets the price of a barrel of oil?
ITS NOT G.W. Bush





the price is set through the stock market...


basically at the new york stock exchange there are hundreds of people who are bidding on companies, commodities etc. So if someone thinks that they want oil, they bid a little higher than the price is at that moment. Eventually other people notice and everyone is buying oil and so the stock goes up and up








it was around $15 just 5 years ago and now what is it? $130Who sets the price of a barrel of oil?
investors drive up the market price.





the reason oil keeps going up is because investors keep acting on the speculation rather than real facts of looming shortages.





the first guy to buy oil for $100/ a barrel lost money because he could only sell it at the time for less than that, but he just wanted to be the first person to buy oil for $100/ a barrel.
Q: Who sets the price of a barrel of oil? A: Fools willing to pay high dollar for a gallon of gasoline. Or did you mean OPEC (Organization of Petroleum Exporting Countries)?





By the way, this is the hunting forum. Perhaps you should re-post your question in 'politics,' 'current events' or some such forum.





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OPEC, countires that supply oil (mostly middle eastern) send delagates to set prices based on demand, supply, and other factors. It is not their fault prices keep rising, we use to much and they are trying to save some so we dont use it all now and have none in 10 years
The people who own the land it comes out of, and they can push it as far as they want because they have everyone by the short hairs. For the guy who said ethanol, it take 120 litres of fuel to create 100 litres of ethanol, and it is currently driving crop prices through the roof. Any money saved on gas goes toward buying cereal and rice.
No one, the market sets the price by the law of demand and supply. Also, traders are financial centers (Wall Street, ect.) buy and sell, making the price fluctuate.
The people in the middle east that own the oil because you can sell anything that is yours for whatever price you want.
corrupt politicians and the middle eastern oil companies.
Why did you ask this question in hunting? Isn't this a more appropriate question for politics?
the oil companies in the middle east.
NOT YOU!!!
Whats this got to do with hunting ?
George W. Bush