The price of oil are those negotiations which are made on oil in the speculative markets and sales of products like this. The price of oil has increased by several factors, which we will mention succinctly below. The increase in the price of oil affects all markets of the world, because the oil is an essential product for the transport of all types, since it is used for land transport, maritime transport and air transport. It is for this reason that the increase in the prices of oil, which brings as a consequence the increase in the oil price, greatly affect all economies in the world today. The increase in the price of oil is due to multiple factors. Among them only mention some of them that we believe that they have played an important role in the rise of this important product. The increase in the price of oil has two important causes: the first thing mentioned is the growing increase in the demand of oil around the world, which has made that many contributions of oil will be by clouds. The second one is that this product is becoming more scarce, by the excessive exploitation of the deposits of oil available in the world, and because this is a product that is considered non-renewable, because it takes millions of years to regenerate again beneath the Earth.
Indeed, both causes are very important and have had a vital importance in the increase in the price of oil. From the first point of view, which is that says that oil increased due to the growing increase in demand, the increase in the price of oil is just logical. With the expansion of growing cities, with the growing needs of means of transport by countries with growing cities, with facilitating the acquisition of cars and mechanical vehicles that use gasoline which is made with oil, the increasing oil demand increases more and on a par with her increasing quote of the oil in the entire world. In addition to this first cause which we have mentioned, is the second that is not less important or transcendent to the increase in the price of oil: the second cause is the growing scarcity of oil in the world. Indeed, as we have seen the need to increase more and more consumption of this important mineral that is below the Earth’s crust, the growing demand has exhausted stocks that has the Earth’s crude oil and has done that today oil begin to dwindle in place that increase the capacity of production of this product. This is an important factor that increases the price of oil worldwide. Between these two factors two important causes for the increase in the price of oil are presented throughout the world. Indeed, if the increase in demand by itself increases the price of anything, this increase is presented even more acute if that demand is increasing, the demanded product is scarce in great measure. Original author and source of the article