Oil prices have been unstable from 1998 to 2001, with OPEC trying to control them. They initially misjudged the market, causing prices to drop, but then successfully raised them too high. OPEC struggled to manage falling prices due to global events like 9/11. The high prices are needed by OPEC countries to fund their expenses. OPEC's strategy shifted to target a price of $25/barrel. Political changes and improved management helped OPEC, but they still struggle to control the market due to limited tools and data. Price volatility in the oil market is expected to continue in the future.