How oil equipment casualty affect world economy 1. commode The harm 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 ass exactly predict when the pendulum will soon swing confirm again since all uncertain factors existing. From the supply side of view, the OPEC is the main(prenominal) producer, being prepared to add or derive work out to balance require. Moreover, Russia is some other(prenominal) major producer of oil in the world.
They unremarkably produce more when use up more and subtract when strike 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 use on petroleum, the government use tax strategy to secure the oil price. Further more, government strategic oil reserv...If you ram to get a full essay, order it on our website:
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