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News> Energy Markets> Columnist: How does it affect your life in international finance: Oil Prices
It is almost impossible not to notice that the last few weeks, oil prices fell sharply. The crude oil was writing this article 65-69 dollar range. This decline, which lasted from March 2011 until September 2014 when there was fall of prices around 100-110 dollars. Oil prices from September 2014 until 2011, with some fluctuation was descending slowly down. Not to descend after September 2014, began to fall.
There cause numerous behind this decline, such as the resumption of oil production in Libya, a huge increase in the shale oil uremia in the United States, Russia, Canada and Saudi as production increases, and the last in Arabia reduce the production of 30 million barrels of OPEC daily to directly considered by the decision to target its oil production in the US rock ...
Sluggish EU economy, among other reasons for the decline in crude oil prices, the slowdown of the Chinese economy, there are stagnant Japanese economy and global general economic sluggishness. Oil consumption in the EU and Japan has fallen significantly since 2007. vehicles 3092 in the United States is becoming less fuel is consumed. US is the world's biggest crude consumer. There are many things that happened determine. Also exported to the US by a very large amount of refined petroleum products reduce the pressure on the world oil market. USA, Canada and can not export crude oil in the country except for some special conditions. US oil can not leave the US territory. Just finished petroleum products, oil, plastic resins, products can be exported as raw material for petrochemical plants ...
Thus, oil prices fell. Yes, there are many types of oil, such as light, sweet and sulfur, Saudi light, Venezuela 3092 sulfur, Canadian oil sands (also called 3092 bitumen) and there are hundreds of varieties. All prices fell. Why Is That? Oil prices worldwide. Oil markets are global markets. Supply and demand; political, economic, technological or other reasons when changed in any way by changes in oil prices. That we use gasoline, diesel and more