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Oil prices depend on trading that’s why it changes day by day, maneuvered by traders who bid on the future in the consumer market. There are two categories of traders. One is the representatives of the companies who use oil and others are the speculators, their main agenda is to make money when the price of the oil fluctuates. There are three factors use to determine the price of the oil. First is the current supply. From 1973 to onwards OPEC (Organization of the Petroleum Exporting Companies) has the most percentage of oil exports in the world but on the competitive side US Shale Oil Production gave them a hard time in 2011 and 2014. Their rivalry in this business determines the price in the market. Second is based on oil reserves. These reserves can be accessed when the pricing goes over the head and each country in the oil