United Refining Company CEO John Catsimatidis explained why Russia and the OPEC nations are pushing for higher oil prices and how much Russia stands to gain.
United Refining Company CEO John Catsimatidis explains why Russia and OPEC nations want to push oil to $100 a barrel on 'Varney & Co.'
United Refining Company CEO John Catsimatidis argued Friday that OPEC nations and Russia are pushing oil prices to go higher, telling "There is a struggle. The OPEC nations, Russia , they want to do things to make them [oil prices] rise, they want $100 dollars a barrel. At $100 a barrel, Russia makes a billion dollars a day. They [Russia] hire their own army, they’re not necessarily using their armies they're hiring the Wagner Group. With a billion dollars a day coming in money is no object. We made OPEC zillionaires. There’s a struggle between common sense and the people that want to glom the money, they want to glom the money.
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