Who Governs Global Oil Prices?
... 'seven sisters', who reflected the global power balance – with USA and still Great Britain dominating this list. Today, many of the top Western oil... ... 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... ... 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...