Citation? Everyone I spoke with back in 2008? Sure anecdotal, but that's what my comment is basing it on.
Regardless, I think you just proved my point. Supply/demand determines prices not OPEC.
If OPEC controlled prices they wouldn’t have dropped 80% post-2008. Prices were so low that capacity was taken offline and some countries has serious financial difficulties.
That doesn't sounds like a monopolistic market.
Citation needed.
The US Gov literally said the current (in 2008) high price are due to demand/supply mismatch and "most industry experts contend that oil resources are plentiful ... Drilling activity is at a high level" [1]. As in the price will go down.
OPEC only needs to control its members a tiny bit. Oil is sold on the margin and so a tiny demand/supply mismatch means a large price difference [2].
[1]: https://www.dallasfed.org/~/media/documents/research/eclett/... [2]: https://www.vox.com/2015/1/5/7493799/oil-prices-chart