Economic issues

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Economic issues. Oil as the central world commodity, leading to a fundamental change in the global economy.

Parties concerned

Byers

Cunsumers

OPEC

The project budget is not determined due to frequent changes in oil prices.

Project stage

Stage 2

Determination of oil as a scarce product.

Stage 1

The organization of economic activity on the proposal of cheap oil in large amount.

Project risk

The oil become scaree resourses.

When the price of some commodity increases, consumers will try to use less of it but producers will want to sell more of it.

The OPEC oil price shocks.

Additional Information

Why oil prices will not cool down, but only go up

Why the Price of Crude Oil Dropped in 2015

What moves the prise of oil

Objective of the project

Increase in demand on oil replacement products.

In the course of a significant increase in oil prices, there is a need to switch to oil-replacing products.

Combining oil-producing countries into one organization.

In the process of increasing the impact of oil on the economy, the main oil-producing countries are merging into one organization to jointly raise oil prices.

To allocate scarce resources to satisfy their unlimited wants.

As you know, in the world resources are divided into limited, unlimited and recoverable.With unlimited human needs, it is necessary to develop a rational use of limited resources.