Understanding Oil Prices: A Guide to What Drives the Price of Oil in Todays Markets Carollo Salvatore
Understanding Oil Prices: A Guide to What Drives the Price of Oil in Todays Markets Carollo Salvatore It's a fair bet that most of what you think you know aboutoil prices is wrong. When asked, most…
Specifikacia Understanding Oil Prices: A Guide to What Drives the Price of Oil in Todays Markets Carollo Salvatore
Understanding Oil Prices: A Guide to What Drives the Price of Oil in Todays Markets Carollo Salvatore
It's a fair bet that most of what you think you know aboutoil prices is wrong. When asked, most people- including politicians, financial analysts and pundits- will respond with a tired litany of reasons ranging fromincreased Chinese and Indian competition for diminishing resourcesand tensions in the Middle East, to manipulation by OPEC andexorbitant petrol taxes in the EU. Despite the massive price fluctuations of thepast decade, the received wisdom on the subject has remainedfundamentally unchanged since the 1970s.
For instance, what really happened in late 2008 when, in just a few weeks, oil prices plummeted from $144 dollars to $37dollars a barrel? Yet the facts belie theseexplanations. Did Chinese and Indian demand suddenly dry up?Did Middle East conflicts magically resolve themselves?
Did OPECflood the market with crude? In each case the answer is adefinitive no - quite the