In addition to that, sanctions lifted from Iran. Iran and Saudi Arabia are the most influential members of OPEC and they don&#x27;t get along whatsoever. Meaning the Saudis and the Iranians will break rank and try to claw out more market share by ramping up production.<p>Additionally, more in response to rtpg&#x27;s comment: it is very costly and technically challenging to stop or reduce oil production, hence the price volatility is the result of volatile demand fighting it out with very stable supply.