Who decides the Oil costs?

[Anisha fatima + 8]

Who controls or comes to a decision on Oil costs?

[0R0 + 6,251]

Do you mean the cost to produce, which varies greatly. Or the price, which is a far narrower distribution for similar grades once you take out transportation cost to a terminal.

[Dan Warnick + 6,100]

I'll assume you mean the price, and simply say "traders".  Futures contracts traders, mainly.

[0R0 + 6,251]

36 minutes ago, Dan Warnick said:

I'll assume you mean the price, and simply say "traders".  Futures contracts traders, mainly.

Lets amend that, supply demand arbitrage by trading houses and speculative trading by hedge funds. 

[Anisha fatima + 8]

Thanks for your response dear mates.