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Commodities Briefing - Categorized | Oil, Price Watch more

Could US oil trends alter how oil prices are set?

Posted on 11 June 2013

If you follow energy closely, you’ve likely lost count of the number of times you’ve heard an economist, executive or government official explain that oil prices are set by the global market, and not by oil companies or the US government. Although somewhat over-simplified, this statement has been valid for roughly 30 years.
However, it hasn’t always been the case. Current trends in US production, together with existing regulations, make me wonder if it will remain accurate in the future, as the US inches closer to what is commonly referred to as energy independence………………………………………..Full Article: Source


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This post was written by:

VRS - who has written 36927 posts on Opalesque Commodities Briefing.


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