Oil Price Volatility

Abstract

Over the last 14 months, the average price of oil has gone down by about 60%. Oil prices fluctuate for a numerous of reasons. To name few are like, rise in global economic activity can bring demand and hail prices higher, while increasing production rates can cause prices to decline as well. Although simple, economic supply and demand tales are useful in describing the oil price movements.

Keywords: Oil, price, economic activity, demand, consumer