Black gold play, US or Gulf Countries, who ia dominating?

When we talk about crude oil, who is dominating?

Are they? who are from Dubai Mercantile Exchange

Or they? Who are from New York Mercantile Exchange

The global crude oil benchmark, which is globally traded NYMEX front-month crude oil future, has recently reached 70dollars, buoyed by big speculation, in line with bullish global equity markets, and increase in US treasuries yield, giving sign of the start of receovery, and demand of higher risk investment. The 70dollars crude oil is welcomed by world's big oil exporters, especilly OPEC members, recall that OPEC member had always urged to correct the price level to ideal 70dollars, since the global recession, to avoid woes of halted exploration and for stability of future supply, after about a year, OPEC eventually gets what they desired, is it caused by OPEC's production cut? probably yes, but it's not a significant factor, on the other hand, when US' handful of economic data are announced, commodity market is ignited, especially black gold market, where prices rose steadily, this is in contrast when compared with Persian Gulf's action. Persian Gulf countries announed production cut, which only ignited a short term spike in global oil prices, giving less momentum to support oil price, from the comparison, dennis has got insight that, black gold prices market is still not dominated by OPEC, but by US traders's speculation, which speculates on positive economic data, better existing home sales, fewer jobless claims, increasing consumer and business confidences, for instances, and the market is still drove my speculation, rather than supply-and-demand figures, dennis thinks OPEC still need to struggle to be more influential in oil market.