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The simplest solution to prevent declines in the price of any commodity is to have the producers of said commodity agree to cut production. Such a move would lead, by extension, to reduced market saturation and a rise in demand for, and price of, the commodity in question.
Yet, despite the simplicity of this solution and its prevalence in all types of markets, resorting to it may lead to repercussions that are greatly more complex and dangerous when the targeted commodity is strategic in nature — as is the case with petroleum.
