OPEC’s Barkindo: Demand is what drives the oil market, not supply

Comments by OPEC secretary general, Mohammed Barkindo

  • Volatility, geopolitical tensions hurt oil market
  • Cautious in projecting demand for 2019, 2020
  • Says that producers are committed to maintain stability beyond 2020
Yeah, I don’t think that’s how it works. In an efficient market, the dynamics of supply and demand are what drives prices to where they are.
So, it is either he is saying that the market is manipulated or he doesn’t understand the proper dynamics of a functioning market.
Questionable