This article contributes to the debate about the impact of the U.S. fracking boom on U.S. oil imports, on Arab oil exports, and on the global price of crude oil. First, I investigate the extent to which this oil boom has caused Arab oil exports to the United States to decline since late 2008....

Chapter 1: Adi Imsirovic, Historical background to the emergence of benchmarks and Brent in particular -- Chapter 2: Liz Bossley, UK State, BNOC, tax, markets, and Brent; first forward trades, optionality, terms, players -- Chapter 3: Colin Bryce, genesis of Brent trading, people, banks and...