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Is the price of oil rising?
It continues to rise. 1, the rising oil price means the inflation growth in the international economic market and the state that the domestic oil market is in short supply; 2. 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 increase the price of living and reduce the consumption level of residents. 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.

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