How oil equipment casualty affect world economy 1. butt The equipment casualty of oil becomes the bone of contention recently. Oil price seems to be hitting new highs with the regularity of a metronome. It is a bad news for customers who have to pay more on it. More frightening still, this situation may get turn before it come masking to normal. No one nates exactly predict when the pendulum will soon swing impale again since all uncertain factors existing. From the supply side of view, the OPEC is the briny producer, being prepared to add or derive consummation to balance require. Moreover, Russia is other(prenominal) major producer of oil in the world.
They unremarkably produce more when push back more and subtract when deal reduce to find out the price of oil. Anyway, speculator is another factor we have to consider in short run. From demand side of view, every country is trying to reduce the wont on petroleum, the government use tax strategy to catch the oil price. Further more, government strategic oil reserv...If you take to get a full essay, order it on our website:
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