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. Despite the massive price fluctuations of thepast decade, the received wisdom on the subject has remainedfundamentally…
Specifikacia 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. Despite the massive price fluctuations of thepast decade, the received wisdom on the subject has remainedfundamentally unchanged since the 1970s. 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. Yet the facts belie theseexplanations. For instance, what really happened in late 2008 when, in just a few weeks, oil prices plummeted from $144 dollars to $37dollars a barrel? 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