Keyword Analysis & Research: oil prices

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Frequently Asked Questions

What drives oil prices?

Like most commodities, the fundamental driver of oil's price is supply and demand in the market. Oil markets are composed of speculators who are betting on price moves, and hedgers who are limiting risk in the production or consumption of oil. Oil supply is controlled somewhat by a cartel of oil-producing nations called OPEC.

What will cause oil prices to rise?

High oil prices are caused by high demand, low supply, OPEC quotas, or a drop in the dollar's value. Demand for oil and gas follow a predictable seasonal swing. Demand rises in the spring and summer due to increased driving for summer vacations.

Why is oil going up in price?

In some cases, wholesale oil prices go up because the producers simply choose to make it less accessible, such as by restricting the output volume. However, a variety of other situations can also lead to increases, including civil turmoil and natural disasters.

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