The rise in oil prices means the inflation growth in the international economic market and the shortage in the domestic oil market; As long as the oil price rises, it will increase the cost of vehicles and other means of transportation, and at the same time, it will also raise the price of living and reduce the consumption level of residents.

In addition, crude oil is an essential product for industrial production, and it is also an important raw material for gasoline, diesel oil and lubricating oil that people use every day. Therefore, the fluctuation of crude oil price is closely related to economic development.

At present, crude oil is traded in the form of futures contracts, and the oil price index refers to the price of crude oil futures contracts; The specific operation of crude oil futures is that both parties sign an oil futures contract in advance, and on the specified date, the buyer can buy from the seller at the price stipulated in the contract.

That is to say, from the perspective of national economy, for crude oil importing countries, falling oil prices can reduce local industrial production costs, improve the profits of local enterprises, encourage enterprises to expand, thereby increasing local employment and promoting GDP growth. On the contrary, for oil-producing countries, falling oil prices may lead to a decrease in national income and put the government under financial pressure.