Who Governs Global Oil Prices?
... producers decided to jump on the bandwagon. I doubt that the US will be able to overtake Saudi Arabia and Russia as some reports argue by 2017-2020, but potentially we could see this giant becoming... ... 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... ... 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;...