An Analysis of the Influencing Factors of the World's Oil Price Fluctuation

As a non-renewable basic energy and chemical material,oil is one of the most basic raw materials of modern industrial production and the lifeline of economical development,and its production and supply are concerning the normal operation of national economy and people's quality of life directly.In current international oil market,generally the oil prices are increasing constantly,but the trend is unstable with prices soaring and slumping.Under this background,the paper analyzes various factors affecting the price of oil,in an attempt to do a scientific prediction of future international oil prices,which has an important theoretical significance for the country to formulate oil trade strategies,to enter into oil futures trading and for the enterprises' to make scientific decision.