OPEC Is Out of Business, But Dollar Crash Will Save the Oil Price

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OPEC Is Out of Business, But Dollar Crash Will Save the Oil Price

The OPEC oil cartel is finished because its members don't trust each other, but a severe weakening in the US dollar will cause oil prices to rise later in the year, investment expert Michael Pento told Sputnik.

The supply and demand of oil will both be subject to great volatility this year because many oil companies will not be able to maintain their business at low prices, and there will be a "destruction" of demand from Asia, Michael Pento of Pento Portfolio Strategies told Radio Sputnik.

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  • Asif Ehtesham
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