This question is not just about the participants in the FOREX market, but also the question of anyone interested in the vehicle. Every morning, you hear the words "oil prices rise, oil producing countries have reduced production." But how can we forecast the increase or decline in oil prices?
Oil, Gas, Gas, Plastic
  • The underground wealth of oil does not have an irreversible particle. Regardless of the place of the earth, man always seeks to acquire this wealth of nature. Crude oil, produced as crude oil, is subsequently marketed into a variety of industrial products. The most important factor in price changes in retail sales is crude oil.Factors Affecting Crude Oil Prices
  • The main factors affecting the crude oil prices are: Increase in demand for energy in the world, production capacity of oil producers, political and social changes in oil extracted areas, wars and natural disasters.
Territory prejudice
  • As the demand for energy rises from day to day, crude oil reserves are diminishing. But despite this, new oil wells are discovered every day and drilling is done. Energy demand forces oil producers to increase their power. In addition, the number of oil-rich land is limited. Any instability in these areas directly affects oil prices.
Importance of Transplantation
  • Consistent and effective transportation network along with increased production capacity is also an important factor for this sector. However, the occurrence of terrorism and piracy on oil-bearing roads or on the distribution network directly affects the rise in sales prices.
International economic processes also have high pressure on crude oil prices. Because the large and rich foundations in the market sometimes take very important steps in determining the price of food and oil products. As a result, there are speculative changes in the price.
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