Search: OPEC,Long-Term Contracts (1 material)

Who Governs Global Oil Prices?

... naturally there were elements of unfair pricing; as sisters still clinched the market tightly. At this stage, prices continued to be formulated by a cost-plus system for crude and now net-back for other petroleum products. Again, the seven sisters preferred long-term contracts and also used modern concessional tools to account for 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 of the first stage remained, as prices depended on whether crude oil passed via the Gulf of Mexico or the Persian Gulf. In other ...

13.09.2013

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  1. In your opinion, what are the US long-term goals for Russia?
    U.S. wants to establish partnership relations with Russia on condition that it meets the U.S. requirements  
     33 (31%)
    U.S. wants to deter Russia’s military and political activity  
     30 (28%)
    U.S. wants to dissolve Russia  
     24 (22%)
    U.S. wants to establish alliance relations with Russia under the US conditions to rival China  
     21 (19%)
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