Introduction
For numerous decades, oil has been an important source of the commercial energy throughout the world. The oil industry has always been a vitally crucial industry due to its contribution to the global economy. For this reason, oil is in high demand at all times. Just like the other commodities, the price of oil is determined by the market forces of supply and demand. The oil price fluctuations greatly affect the national economies differently. For instance, while the net exporters of oil suffer economically when the prices decline, the economies of the net importers benefit. Consequently, as one of ...