The fluctuation of oil price is influenced by many factors, including the relationship between supply and demand, the political and economic environment, and the trading strategy of hedge funds. Economically developed countries and regions have a great demand for oil. The production reduction policies and natural disasters of oil-producing countries such as the Organization of Petroleum Exporting Countries will lead to a decrease in supply and have a great impact on oil prices.
The change of oil price has a far-reaching impact on the global economy and financial market. Rising oil prices often lead to rising inflation and pushing up commodity prices, which has a great impact on all walks of life. However, the increase in investment in the oil and gas industry will also promote the growth of related industries, create more jobs at the same time, and have a positive impact on the overall economic development.