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? asked in Social ScienceEconomics · 2 weeks ago

If producer find additional oil reserves what will happen to price of oil?

4 Answers

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  • Oiy
    Lv 7
    2 weeks ago

    The news will go directly to the stock market, but not the oil market. The oil market is control by big player like Opec, Russia, Canada and USA. The stock of the US oil reported will affect the price of oil, but not the news from the exploration companies.

  • Dick
    Lv 7
    2 weeks ago

    In spite of all the bull $h!t and rhetoric to the contrary, supply and demand have little to do with the price of oil. Legal or not, OPEC just arbitrarily prices oil to suit their political agenda.

  • R R
    Lv 5
    2 weeks ago

    Finding oil reserves is step 1 in the production process, after that it needs to be developed.  Oil will continue to be here for a long time.

  • !
    Lv 7
    2 weeks ago

    Nothing. Unless they actually tap in to those reserves, nothing has changed in the available supply. 

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