@teja722 Well Oil price can decline due to various factor's like ,, a country start's producing more oil, this will increase in supply and decrease in price. for example the crude oil was trading at around 150$ during the Iraq war but after the war, it went back to 90$ ... similarly recently during Libyan civil was Libya stopped the export of oil, the price's went up but after the end of gadhafi Libya has started to export oil .... hence the price's are declining
here's what happens. It can be because of aditional supply or declining demand. In 2008 prices went down because of the economic recession. There were less and less transactions, so there were less fuel demand, so prices went down.
But oil prices never decline! :(
mackat4ck 3 weeks ago
@amanvds
Then oil producing countries can control international economy just by reducing or increasing oil production , aint it !
teja722 3 months ago
i think the whole education system should be founded on fun comics like these, ive learnt so much tonight. But not about english
landraider101 3 months ago
why do oil prices decline ?
teja722 3 months ago
@teja722 Well Oil price can decline due to various factor's like ,, a country start's producing more oil, this will increase in supply and decrease in price. for example the crude oil was trading at around 150$ during the Iraq war but after the war, it went back to 90$ ... similarly recently during Libyan civil was Libya stopped the export of oil, the price's went up but after the end of gadhafi Libya has started to export oil .... hence the price's are declining
amanvds 3 months ago
@teja722
here's what happens. It can be because of aditional supply or declining demand. In 2008 prices went down because of the economic recession. There were less and less transactions, so there were less fuel demand, so prices went down.
juanleiden 2 months ago