With China oil demand increasing at a profound rate and new sources of oil production in the North America and Southeast Asia, we are seeing a shift in oil markets that are changing the old Middle East, OPEC driven model. As China attempts to quench its voracious appetite for crude, many of these new oil projects find themselves in a good position of not only servicing internal consumption, but selling into internal markets driven by the big red tide. We are seeing markets and pricing taking on stronger, regional controls but with growing international markets still in their sights. Here is some recent media that lay out a case for new short-term and long-term developments and how as a result, we are seeing the dividing of oil markets that will change how local and international demand is met, a shift how international security is viewed and drive influence on pricing.
http://www.iea.org/newsroomandevents/pressreleases/2013/october/name,43501,en.html
http://in.reuters.com/article/2013/12/03/markets-oil-idINDEE9B201220131203
