Who Governs Global Oil Prices?

... he only highlights three stages, but he outlines two factors behind shifts in oil prices. He sees the key reason being “fundamental factors”, but occasionally short-term “financial factors” also edge the market. For instance, just ... ... – much more than modern OPEC at around 40%. Again, the third stage was followed by a transitional period of 1985 to 1986, as Saudi Arabia pushed for the net-back mechanism across not only petroleum products, but also crude oil. Saudis also began to reject ...