Why cant the price of oil be a set price?

can the price of oil be a set price ,meaning stop trad it on the stock marcketWhy cant the price of oil be a set price?
no... an oil well in texas may produce oil at 20 dollars a bbl...one in the deep water in the north sea may cost 60 dollars a bbl...price cant be set.. without creating supply problems or false profitsWhy cant the price of oil be a set price?
It all goes back to supply and demand.
Its called the free market. Whenever government gets their claws into something by trying to control the price of something, excrement ALWAYS hits the fan. Supply and demand is what sets the prices, as well as competition. If one manufacturer or country controls most of the supple, they can pretty much set whatever price they want. Only when the demand for the product drops or a supply comes from somewhere else, will the price drop. Every product, including oil, cannot be priced as high as the producers want or else they risk the demand for their product to drop, decreasing their profits. The market decides the price, and trying to artifically set a price always ends in failure and destruction of some other aspect of the economy. Case in point: ethanol subsides driving up the price of food.