What really dominates the global oil price is the inventory of Cushing in the United States. WTI and Brent crude oil prices are negatively correlated with Cushing's inventory scale. Although global economic and political events have the ability to affect oil prices, the impact of these factors will be "short-lived" without the support of Cushing's inventory level.

According to Oilprice, the crude oil inventory in Cushing, Oklahoma, USA controls the global oil price, because Cushing is the pricing point of the world's largest crude oil futures West Texas Intermediate (WTI) futures.

The content of this article comes from: China Law Publishing House "The All-knowing Series of Common Sense of Legal Life".