Who Governs Global Oil Prices?

... socio-economic factors. But, in 1969 to 1973 a major transitional period occurred as these majors started to negotiate with the OPEC alliance or 'cartel', with prices being linked evermore to national goals. Also, the two-regional system ... ... vast inflows of liquidity without inflationary repercussions. As a result, this huge liquidity is invested back into the large developed economies that also tend to be the actual consumers of oil. It is an incredible carrousel or a resource curse, except ...