Why Does OPEC Control Oil Prices?

The video discusses OPEC's formation, its influence on the global oil market, and its role in supply and demand dynamics. It highlights the economic and geopolitical impacts of OPEC's decisions, including production caps and their effects on oil prices. The video also explores the implications of OPEC's actions on US-Saudi relations and the broader geopolitical landscape, particularly in the context of Russia's actions in Ukraine.

What new insight or understanding did you gain from this video?