The erratic price trajectory in oil markets in recent decades can largely be explained by demand and supply curves. Although price movements are of course determined by changes in both supply and demand, the separate impact of these two factors can be disentangled .
Also The world oil market has changed profoundly in the last few decades, but a few outdated conceptions persist. For example, a common misconception is that world oil is dominated by a handful of multinational corporations. 
What is your view about evaluate of demand and supply in the Oil Market in Recent Decades and multinational corporations????