Who Governs Global Oil Prices?
... boom was due to Saudi Arabia/OPEC pricing policy, as it was more to do with speculation, but still, as prices increased to all time highs US local producers decided to jump on the bandwagon. I doubt that the US will be able to overtake Saudi Arabia and Russia as some reports argue by 2017-2020, but potentially we could see this giant becoming a physical superpower, as well as being a virtual one, as the next paragraph will discuss. USA, as the centre of virtual paper market influences prices substantially,...
13.09.2013