Market or Battleground ???

[Dr.Masih Rezvani + 27]

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Also The world oil market has changed profoundly in the last few decades, but a few outdated conceptions persist.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????

[Ward Smith + 6,615]

If left to their own devices, the seven sisters plus the 6 big NOC's would be blundering ahead with oil around $140/bbl and every major economy in the world in a major recession.  It takes the small, innovative operators to figure out a new way to crack the nut, ala George Mitchell, who single handedly created the fracking revolution after EVERY SINGLE MAJOR OIL COMPANY turned him down. Exxon never innovates, hell their own scientist invented SAGD and THEY NEVER IMPLEMENTED IT! Economically big oil dominates oil economy and sucks all the oxygen out of the room, but it's the smaller operators making new things happen. Demand is going down for oil for strictly socioeconomic reasons, primarily due to an aging and shrinking population in developed countries. Demand in developing countries is irrelevant, because they can't afford the hard currency to pay for it.