Seems like  OPEC&#x27;s current strategy is to dump oil onto the market for a low price.<p>This both makes it unsustainable for the competition to drill for oil, and creates a higher demand.<p>Once many of the competing (e.g. Western) oil companies goes bankrupt, OPEC can increase the prices and enjoy both higher demand and increased profit. At that point, it will take a long time before investors feel comfortable investing in oil again in fear of an identical situation. They also push renewables into a similar spot.<p>I was looking for a reference that shows debt vs. market cap of US oil companies, but cannot find it. It didn&#x27;t look promising for the US oil companies.<p>Anyway, this doesn&#x27;t have anything to do with peak oil, which we are likely passing these years (for conventional oil). Except we&#x27;ll likely crash sooner if we increase demand.