The price of oil is an important fact for economic life in modern life. Indeed, there are many interests around the oil of by means which make any movement that this do to generate more than one noticeable change to economic level and at the level of society in which we live. That is why many scholars of the economy have in mind the price of oil to make your calculations and predictions about the economic trends that mark the world markets in the future. As we can see, the price of oil is an important economic factor which cannot be ignored by anyone intending to have a full vision of the economic movements of today. That is why the majority of economic analyses that show an overview of the directions which will take the economy around the world to give a special place to the oil price as a sensitive factor of change in the movements of the market of today.
In the days of today the oil price starts to become increasingly more expensive and more difficult to bear by all those people who are affected by this factor (that this is actually a fact that affects almost all persons involved in any way in economic movements in the world). Since the price of oil affects one of more products for the operation of the people in the days of today, which is gasoline, main fuel for all means of transport, especially for the maritime, land and air transport. The price of oil becomes more expensive day by day because due to the exploitation that we’ve made this mineral or substance and to the ever-expanding this important natural resource demand, this course has become more expensive. Indeed, the rise in the price of oil has many important factors, of which here we mention two important: every time there is less oil available in existing in the world’s oil reserves and increasingly we extend more demand for this product for the realization of industrial, commercial and domestic tasks. Oil begins to dwindle due to the simple fact that this is not a renewable resource like trees or how can be it animals among many other consumer products.
This means that the price of oil can become more expensive with the passage of time. Indeed, oil can not be planted as the trees are planted, nor can play as animals can do. The restoration of the oil is a process that takes millions of years, time that we do not respect in this time where we exploit it as if this product were not at an end. Is why the oil price tends to be expensive, since increasingly it will be scarcer, and as the laws of supply and demand, say it if demand persists and the bid decreases, the consequence will be the increase in the price. The other factor that makes more expensive the price of oil is that each time we demand more use of this product. The cities of the world tend to grow, and this growth demands the use of more transport vehicles, which use gasoline, gasoline that is petroleum-based. So every time we need more of this product and the same offer is decreasing, which brings as a consequence the increase in the price of oil. Original author and source of the article