Analysis of the International Oil Price Fluctuations and Its Influencing Factors

Lingyu Yan

School of Earth Sciences and Resources, China University of Geosciences (Beijing), Beijing, China.

DOI: 10.4236/ajibm.2012.22006                

Abstract

Oil is one of the important strategic energy to guarantee the development of modern industry and economy, and is also an important resource, which is scrambled by each interest group in the world. Oil price fluctuation is always regarded as the barometer of worldwide economy, whose each change would be the hot issue to be concerned and discussed gen- erally in political and economic circle in every country. This paper systematically reviewed the historical path of inter- national oil price fluctuation, analyzed comprehensively all factors, which effect the oil price fluctuation and proposed the countermeasures and advices to respond the international oil price fluctuation. Through the analysis, this paper ar- gues that the influencing factors are various, and with the development of the world’s economy, the types of these in- fluencing factors would increase and the influencing intensity, which presented by the various factors that affect the oil price, would also different in different historical periods.

Keywords

International Oil Price; Supply and Demand; Dollar Exchange Rate

Conflicts of Interest

The authors declare no conflicts of interest.

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