It’s necessary to scrutinize the talk that some OPEC members, and particularly Saudi Arabia, want to see oil prices at $80 or $100 a barrel, reversing a longstanding tradition of emphasizing market share over short-term revenues. Without question, the Saudi Arabian stance is a major influence on the price of oil, but even they do not have control of the price. Still, this talk could influence expectations of longer-term price trends (beyond 3-6 months) by suggesting to traders that the likely price range is higher than before.
