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EVOLUTION AND FACTORS OF GLOBAL OIL PRICES

Anjian Wang

Abstract

This paper,based on the rating mechanism,markets and prices of global oil,classifies the evolution of global oil prices into five stages.According to the global oil market prices in every stages,the supply-demand relation is a basic factor to determine the oil price.The cost plays a key role in oil price.However,the US dollar has a big influence over the global oil price.The current oil price and market is manipulated.Moreover,some dubious factors,such as wars,natural disasters,accidents and other sudden outbursts,can also lead to a short fluctuation in oil prices.All these factors mutually exert an influence and control over the global oil prices.

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Key concepts: Oil price, Oil-storage trade, Liberian dollar, Economics, Us dollar, Crude oil, Monetary economics, Supply and demand