REASONS FOR OIL UP RISE WITHIN THE LAST 36 MONTHS

Reasons for oil up rise within the last 36 months



Reasons for oil up rise within the last 36 months

Introduction

Oil prices rose on the world market during recent times, as it exceeded the price of a barrel in New York of $ 102. The price of Brent crude As well as light oil in the World Petroleum Exchange, the highest level ever surpassing the $ 100 a barrel, sparking fears of many countries, especially in the Third World due to the high cost of obtaining the barrel compared to prices two years ago.

Reasons for oil up rise

This is because specialists in the affairs of the oil, the causes of high prices, to the following reasons:

1. May stop oil exports, especially after the cessation of exports from the south, and was the Southern Oil Company in Iraq to attack by Iraqi insurgents. And the threat of the possibility of other attacks on Iraqi oil installations that govern American forces, control and monopolize the sale and disposition Bmrdodha.

2. The turbulence of the oil as in a number of other countries may also cast a shadow on the world oil market, which saw the Venezuela presidential elections in the recent past, and the pressure exerted by the U.S. administration on the Chavez government, which was re-elected again in Venezuela.

3. Also, many analysts believe that Iran will cut its current production of oil (3 million barrels per day) by half, owing to pressure exerted by the United States of America and Europe to halt its efforts to enrich uranium and the elimination of its nuclear program.

4. Increase economic growth in oil-consuming countries, especially in China, Japan and India. While you can not the oil-producing countries to raise production capacity, especially in the Middle East and Persian Gulf, where a number of successive wars, led to the exhaustion of the oil sector, and the inability to enter the developments it, as a result of fears of other wars, lead to derail plans for growth and development in the oil sector.

5. The high oil prices, also came as a result of control prices to traders in the global market. Experts say That the continued rise in prices to record highs, the current, standing behind him to enter multiple destinations in the market. Financial houses such as the U.S. and major airlines that have entered a competitor ...