Demand and Supply of Oil
Date Submitted: 09/09/2006 23:17:27
Category: / Social Sciences / Economics
Length: 3 pages (939 words)
Category: / Social Sciences / Economics
Length: 3 pages (939 words)
Introduction
Oil is one of the most valuable and scarce energy resources in the earth, and in order to assess the recent developments in the price of Oil in world trade, it is important to analyze the underlying forces of demand and supply. As energy is an important vehicle of production and growth, Oil is still its main source and has no competing substitute to replace it altogether in the foreseeable future. The UAE is …
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…next year extra consumption if it want to keep crude Oil price near its $25 a barrel price target.
Furthermore OPEC must interfere as soon as it sees any excess in demand or supply of Oil which might causes an increase or decrease in Oil prices.
References
1)<Tab/>Gulf News.
2)<Tab/>google http://www.google.com
3)<Tab/>Norwegian Energy Ltd http://www.noenergy.com.
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