Posted by Tobby > 2021-10-06 11:33 | Report Abuse

The reason is simple! Because US today is so weak! OPEC and Russia once again can do whatever they want! They don't have to be afraid of US at all! Biden administration today is at the US weakest! Gone are the days where US leaders can tell other nations what to do! Instead, the world is now leaderless! China is the new superpower but it has yet to replace US as the new global leader!
Japan is on declining phase but then again, quality of life is so good, i don't think japanese even bother! I mean, Japan is world No.1 in quality of life, innovations have taken a back seat! So what! As if Japan care at all!
Anyway, this oil surge will probably last 2 years or so before oil glut once again takes over! So enjoy the ride!