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THEIR IS A NUMBER OF REASONS BUT THERE ARE TWO MAIN REASONS THAT THEIR ARE HIGHER DEMANDS OF OIL IN OTHER COUNTRIES WITH LARGE POPULATIONS SUCH AS CHINA, AMERICA, AND AUSTRILIA. THE NEXT REASON IS THE RECENT IF NOT LATE ECONOMIC CRISIS OR ECONOMIC DIASTER THAT TOOK A HUGE PERCENTAGE ON OTHER COUNTRIES SUCH AS ENGLAND, NEW ZEALAND & Japan WELL I THINK THAT'S WHAT HAPPENS WHEN YOU TOTALLY DENPEN YOUR COUNTRIES ECONOMY ON AMERICA'S UNPREDICTABLE TRADE EHICH WAS HALF THE WORLD..!!! THEIR IS A NUMBER OF REASONS BUT THERE ARE TWO MAIN REASONS THAT THEIR ARE HIGHER DEMANDS OF OIL IN OTHER COUNTRIES WITH LARGE POPULATIONS SUCH AS CHINA, AMERICA, AND AUSTRILIA. THE NEXT REASON IS THE RECENT IF NOT LATE ECONOMIC CRISIS OR ECONOMIC DIASTER THAT TOOK A HUGE PERCENTAGE ON OTHER COUNTRIES SUCH AS ENGLAND, New Zealand & JAPAN WELL I THINK THAT'S WHAT HAPPENS WHEN YOU TOTALLY DENPEN YOUR COUNTRIES ECONOMY ON AMERICA'S UNPREDICTABLE TRADE EHICH WAS HALF THE WORLD..!!!
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How does OPEC stabilize the market price of oil?
It stabilizes the market price of oil by makings sure that it goes through when it convinces some one to buy it
An increase in the average level of carbon dioxide in the atmosphere is most likely caused by an increase in the?
Burning of fossil fuels (coal, oil and natural gas).
A tropical storm has damaged citrus crops in the South. What is the likely effect of the storm on the cost of oranges?
The price of oranges would increase.
What is NWE Platts?
Regarding Crude Oil or Refined Products? NWE is North West Europe, and Platts is a pricing agency that defines contracts for crude oil and refined products. Eg. Platts NWE Fuel Oil is the price of the Platts fuel oil futures contract at the Rotterdam NWE delivery point.
Global warming is the increase in the average what of the earth?
Temperature of the atmosphere and oceans.its the increase in the temperature of the earthBLANK = "temperature".Temperature
Does oil spills helps to increase the oil price?
Yes it does affect the oil price
What is opposite of 0.25 cents oil price increase?
The opposite of a 0.25 cent oil increase is a 0.25 cent oil decrease.
The price of an oil is rs 30per barrel and price elasticity -0.5 an oil reduces the quantity avilable 20 percent use arc elasticity formula to caluculate percentage increase in the price oil?
the price of an oil is Rs 30 per barrel and price elasticity -0.5 an oil embargo reduces the quantity available by 20% use arc elasticity formula to caluculate percentage of increase in the price oil?
How would high oil prices cause inflation?
oil in general is used i production of goods and services.. oil as in petrol oil can be used in manufacturing products and if oil price is high, cost of production would be on the increase so this will result in the increase in the price of that product.
What are the possible effects of oil price increase?
poor people can't drive cars!
Which is most consistent with the law of demand?
An increase in the price of heating oil causes a decrease in the quantity of heating oil demanded.
How can the president lower prices on oil?
By allowing oil companies to drill for oil the President with the consent of congress can increase the supply of oil, thereby decreasing the price of oil and gasoline.
Did the price of a barrel of oil quadruple between 1971 and 1980?
It was actually much more than that. In 1971, the price of a barrel of oil was $3.60. By 1980, the price had skyrocketed to $37.24 per barrel; an increase of 934%
Is oil costly?
Yes, very. Because of the tedious process and shipment it causes the price to increase.
Why is it not possible to conclude that OPEC total revenue would increase if it were to cut its production does the elasticity of non- supply have any influence on how the price of crude oil changes?
OPEC acts like a monopoly on crude oil. They can cut production and decrease the supply of oil, thus raising the price, but this does not necessarily increase revenue. As the price increases, the demand decreases. The percentage change in quantity demanded in response to a one percent change in price, while holding all other factors constant, is called price elasticity of demand. If the price elasticity of demand is high, then the demand will decrease significantly as the prices increase, and revenue may not increase.
What happen to meg price when crude oil price increase?
she fainted and died......i acually dont know,...but...a nice spirit would answer in this fashion
Does the price of oil affect the price of petrol?
Yes, petrol prices will move slightly to reflect the oil price, although in the UK the the oil cost is a very small part of the price per litre, tax and fuel duty makes up the majority of the cost. Also as petrol if produced through fractal distillation (separation of crude oil) the price of petrol is most likely to increase slightly through the price of oil.
