OPEC announced recently it will continue with planned modest increases in crude oil production, rebuffing the U.S. and others who for months have asked the cartel to ramp up its output. In a press release, OPEC sounded satisfied with the state of oil markets and noted the continuing effects of “geopolitical factors” and pandemic-related issues in its decision to stand pat. Whether we are talking about a collection of state-owned companies that make up OPEC or investor-owned companies, a number of factors have shaped the global crude oil market in the past, including the role of financial markets and futures trading ... (full story)