Response to question about gas prices

I heard a news anylyst say that the OPEC nations have threatened from time to time to cut back on production to raise prices. The problem for them (OPEC)is that each country wants to sell more than the others and so production never actually got cut. This time however, they really did cut back and the US used up it's reserves. The end result is less gas and higher prices. I'm no economist but that's the explanation one gave.

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