Influencing factors of oil price:
1, OPEC influence
At present, the suppliers of the world oil market mainly include the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC countries. /kloc-Several oil crises since the 1970s have prompted western oil consuming countries to adjust their energy consumption structure and establish strategic oil reserves. At the same time, vigorously developing energy-saving technologies and developing alternative energy sources has weakened the growth momentum of oil demand and reduced dependence on OPEC oil.
2. Oil reserves
Oil production must be based on oil reserves. In the past decades, the proven reserves of world oil resources have been increasing. It can be predicted that at least in the next 10 year, there will be no shortage of global oil supply. However, due to the non-renewable oil resources, the International Energy Agency (IEA) predicts that the world oil production will reach its peak 20 15 years ago, and the global oil supply will gradually enter a declining stage.
Oil price is closely related to the global macroeconomic situation, so oil price is a key price. Some economists say that high oil prices have a negative impact on global economic growth. Although it is generally believed that high oil prices are caused by economic growth, it shows that the relationship between them is very unstable.
During the oil crisis, the Organization of Petroleum Exporting Countries used oil as a weapon to fight back against western countries, which led to the oil crisis and became the fuse of economic stagflation in western countries. After the end of the cold war, the era of globalization came. Oil has recovered its commodity attributes. In short, in the environment of peace and development, the political attribute of oil is weakened, the economic attribute becomes the norm, the financial attribute becomes the norm, the attribute becomes more and more obvious, and the oil price fluctuation becomes the norm. Financial phenomenon. It should be noted that the "oil price" we usually hear is generally the real-time price of new york and London futures markets, while the oil price used for later statistics and research is generally the transaction price of the spot market.
The Asian market will become the focus of competition among oil-producing countries. Asian oil demand will continue to grow rapidly. As an important force in the growth of world oil demand, China will play an increasingly important role in the global demand pattern.