Who or what organizations set the prices 4 crude oil?
485345
markets do mainly though some foreign countries/cartels such as Venezuela/OPEC have a lot of say. Economics still out as if price too high people use less. Supply & demand
531264
The Energy Information Adminstration is a great resource for this.  Information can be organized and sorted many differnt way over many years.\nhttp://www.eia.doe.gov/\n\nhttp://tonto.eia.doe.gov/dnav/pet/hist/mg_tt_usw.htm\nIncidently, all prices are in cents.  I was confused for a minute or so until I figured that out.
599180
yes, essentially. they are just betting on the future supply of oil, which seems dumb when right now the price should be much lower. unfortunately this is not anti-american. capitalism is the american way and overall, it is a great system. we just have to live with a few unfortunate excesses.
863523
Arms manufacturers and the Oil industry...just like are current White house had planned all along...as long as the mid east is in a constant fight  the prices of Oil always remain volatile...in the end the poor die and the rich thrive.
581781
There is NOT a supply shortage. Even OPEC and Saudi Arabia are saying there's no shortage. They are saying the gas prices should not be anywhere near as high as they are. What's raising the cost is that oil companies are gouging everyone because they basically have a collective monopoly, even though they're supposed to be in competition with each other. That's why oil companies keep scoring record profits each year while average Americans are getting poorer.
286256
As some rapper once said (sorry, not a rap fan), and it applies to everything the government has done forever...\n\n"If it don't make dollars then it don't make sense."\n\nThe article should clear up exactly how oil is involved in our situation...to say we are going to war to get the oil is putting it too simply, that's not the end reason.  The reason we need the oil is to cover for our weak dollar and our manufacturing going over-seas.
288147
The US buys oil from a lot of places, including Canada. Mexico and Venezuela, as well as countries in the Middle East
949851
Crude oil futures trade at the Nymex exchange.  Go to Nymex.com, click on Crude Oil under the Market Data Overview heading and then click on previous session overview.
143856
Mni...PLEASE! Conspiracy my A$$!\n\nThe Bush family is an oil Empire. They are close friends with many Saudi VIP's. They ARE profiting from the Iraqi war, and when a no-bid contract is awarded, it ain't because someone is giving a great price...somebody is getting their pockets lined. Who might that be?\n\n\nThat ain't no F'ing conspiracy, buddy!
475007
Probably Exxon Mobil and Chevron.  The major foreign ones are BP and Royal Dutch.
306206
The  current largest shares of US oil imports come from Mexico (1.77 Mil Barrels per day), Canada(1.74), and Saudi Arabia(1.48).\nIn 2001 it was Canada (1.79, Saudi Arabia (1.66), and Venezuela (1.54).
339321
PRICE GOUGING IS AGAINST THE LAW\nBUT OIL PEOPLE ARE GETTIN FATTER AND WE AS SHEEP GO ON FOLLOWING\nKEY WORD=PETITION AGAINST IT/ MAKE DEMOCRACY WORK
438956
It used to be OPEC but as they now account for only 40% of supply (and 51% of the traded market) then it could be argued that they don't, though OPEC has a large influence on the price through witholding or increasing supplies. The days when OPEC would fix the price are gone\n\nOil futures and options contracts are increasingly used to price the physical stuff. And as traders are nervous to political risk and oil is located in "difficult" countries, then any adverse news will force up the price to discount the perceived additional cost of getting the stuff out of those 'difficult' countries. So everytime there is 'bad' news about Venezuala, Iraq, Iran, Russia or Saudi Arabia, the traders mark up the price on the exchanges and we pay more at the pump
819806
The price went up for us but the cost of crude remained the same.  Today crude costs went down.  Will lower prices follow?  Something smells around here.
539874
OPEC is a cartel.  That is, it is a group of oil producing nations that conspire to fix oil prices according to what they think it is worth.\n\nEver wonder why illegal drugs are so expensive, because they are run by cartels as well.  Now you know why oil is expensive.
314188
Check your facts, and then find new sources for your information.\nOPEC determines oil prices.\nIn 1973 they did it creating our first 'gas crisis' in retaliation for our involvment in and equipping of Isreal for their war with Egypt.\nAs long as the liberal qwacks keep preventing drilling in Alaska, we'll have a shortage.\nUntil GAS COMPANIES and CAR MANUFACTURES stop preventing alternative fuel sources.\nAnd until idiots like you stop making up phony questions.
327234
They say at the start of vacation season. $100.00 Dollars a barrel is their goal. I have heard though that was a farce too, since they move it by the tanker. I saw that on the news..