When it comes to the price of oil, all eyes are usually on the Organization of the Petroleum Exporting Countries, or OPEC for short. It was only in October that the 13-country cartel decided to cut its production volumes by as much as two million barrels a day, one of the biggest cuts in many years.
However, a region far away from the OPEC countries is increasingly determining how expensive driving and flying will be in the future.
