Oil Price Fall Key Reasons Major Consequences

Oil Price Fall Key Reasons And Major Consequences

Oil Price Fall Key Reasons Major Consequences

Oil Price Fall Key Reasons And Major Consequences,This report deals with the consequences that occur due to the constant price fall of oil. In due course, the reasons that have impacted the oil price to fall in such rigorous way will be discussed. The oil price has started reducing drastically in past few days and simultaneously this brings some major economic consequences along with it

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Oil Price Fall Key Reasons Major Consequences

Oil Price Fall Key Reasons Major ConsequencesThis report deals with the consequences that occur due to the constant price fall of oil. In due course, the reasons that have impacted the oil price to fall in such rigorous way will be discussed. The oil price has started reducing drastically in past few days and simultaneously this brings some major economic consequences along with it. It is an international commodity and due to this reason, any fluctuation in its price affects the whole world. The assignment at the end concludes by revealing those industries and countries that had been significantly affected throughout the process.
1.0 Introductions
Hubbard & O’Brien (2013) have stated that the global economy highly depends on some goods of global importance like oil, Gold etc. Any fluctuation in them automatically affects the global economy. Some major elements like price, demand or supply of those goods affect the economy. The price of oil was stable during 2014 and started falling after that. This report aims to identify the causes and effects related to the fall in price of oil (CIA, 2016). The project shows the way in which drop in oil prices affect different countries in different ways. In due courses, it will reveal that some of them can be mitigated while some cannot.

Oil Price Fall Key Reasons Major Consequences

1.1 Background
The trend of oil price in past few decades claims that an all-time highest record of hiked price of oil was achieved in 1980. It was a remarkable record for the global economy. As a result of the fact, the good expanded in the global market and had risen constantly from 1999-2008 (Gandel, 2015). However after this era, recession caused a massive price fall which was again recovered in 2014. Now it is most important to note that from 2014 to present, the scenario of oil price fall is degrading day by day (PWC, 2016).
1.2 Scope
Oil price is very fluctuating in nature and it has sufficient capability in affecting the world economy. This automatically generates some new scope for research with the same thing. Different sort of recession affects it in different ways and there is always scope of cultivating this topic. Being an important global good, some economic changes always occur with it. This subsequently brings in many a scope of research.

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