Daniel Lacalle, Chief Economist at Tressis Gestion SGIIC takes us on quick-fire tour of the global oil market in which OPEC is fighting a losing battle with the forces of technological change and energy efficiency. Cheap, easy money and excess capital drove the demand dynamics of a higher oil price, but the transitory factors of synchronized global growth will be short lived. The geopolitics of oil will diminish with oil's declining importance within the global energy matrix.