Who Governs Global Oil Prices?
... 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, as volumes of financially traded oil exceed physically produced units. As we see, derivatives are a major element, as well as the capacity of liquidity in the ... ... monetary policy – for example, it is now considering ending its quantitative easing policy by around 2014). Also, other financial factors play a role, for instance the recycling of foreign exchange surpluses; the historic example is the one from ...