Factors Affecting Global Crude Oil Prices February 2018 |वैश्विक कच्चे तेल की कीमतों को प्रभावित करने वाले कारक
Factors Affecting Global Crude Oil Prices Friends, today we will dive briefly into the world of Crude Oil business and its impact on Indian's import affecting Indian Economics. Crude oil is a crucial input for almost all economic activities in the modern world. Every industry, directly or indirectly, relies on crude oil to produce output. As with any commodity, its price is influenced by two primary factors: demand and supply . Recent Trends in Oil Prices (February 2018) Oil prices fell for a second consecutive day in February 2018 due to: Slower Demand : Weak Chinese factory data raised concerns of an economic slowdown, which could lower oil demand. Increased Supply : In the U.S., industry data revealed a rise in crude stockpiles amid soaring oil production. Controlled Overall Supply : OPEC and Russia reduced oil exports to align with U.S. export levels. Major Crude Oil Exporters The key exporters of crude oil are OPEC, Russia, and the U.S. . Among OPEC nation...