What Affects Global Oil Prices?
In the past year, we’ve seen global oil prices change dramatcally.
Whether it be terrorist attacks on production facilities or global health pandemics,
the prices at the pumps have never more volatile. With a stimulus set to be put in place
to level out recent price drops, we look at the factors that affect prices.
Prices equal the cumulative affect of:
- Non-OPEC Supply Growth
- OPEC Production Decisions
- Exchange Rates and Inflation
- Spare Production Capacity
- Speculation
- Geo-Political Risks
- Global Economic Growth
- Inventories
- Weather
To see a graph of prices over the last five years click here
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