What's stopping OPEC from charging $1000/barrel for oil today?

Or maybe they should just charge $10,000/barrel for oil ...What's stopping OPEC from charging $1000/barrel for oil today?
No one will buy it then and OPEC will then have no revenues. Interesting question/implications thoughWhat's stopping OPEC from charging $1000/barrel for oil today?
It would bring down the economy of the west, and them right along with it (they rely on the west for a lot of products, and the revenue of the oil).
Abdallah, that is, effectively today.
The sequel to ';The Inconvenient Truth'; has not been released yet.
Err... Iran havnt been invaded yet.
OPEC should worry... because the higher the price of oil they charge, the more people will look for an alternative source to keep going. If thats happen, goodbye OPEC and middle east! A new industrial revolution is on the horizon right now.
The investors are currently raising prices...They don't need to do anything'


Yea capitalism
Look up the term ';W88';.
The fact that we can take it from our own reserves cheaper. Which is the only reason we get it from them in the first place. They won't sell them selves out of a market..
Nations would cut back on their usage. As with drug addicts, their is a threshold of costs that would trigger many to go into rehab.
Because there is no buyer for it. You could charge a million a barrel, but there has to be someone on the other side willing to pay for it. It will only be when Americans start to use considerably less gasoline by their own choosing that prices will go down.