Who Governs Global Oil Prices?

... 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 a couple of days ago we witnessed a financial factor in action,... ... was dominated by seven oil majors, or the 'seven sisters', who reflected the global power balance – with USA and still Great Britain dominating this list. Today, many of the top Western oil companies draw their roots from these original ...