Falling inventory should make oil price to go up but it did ...
Falling inventory should make oil price to go up but it did the exact opposite, therefore one can conclude that oil price is highly manipulated. The major players are obviously US/UK OPEC Russia and China. US in the past generally want to keep the oil prices low as it was the biggest importer, but after the shale oil revolution it became more ambivalent as it became the top oil producer. This year Biden wanted low oil prices to fight inflation. As to geopolitics, if US wants to weaken Russia it wants low oil prices and if it wants to slow China down it wants high oil prices. Obviouly OPEC and Russia want high and stable oil prices, and China India Europe want low oil prices.
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Heartstrings : thanks for sharing