Oil Prices Fluctuating In the Middle East
Introduction Oil being a commodity is subject to high levels of fluctuations as opposed to the stable investments like bonds and stocks. In particular, Organization of Petroleum Exporting Countries (OPEC) plays a significant role in influencing the prices of oil across the globe. As a result, OPEC controls around 40 percent of the global supply of oil by setting the production levels that caters for the world demand and it can determine the prices of gas and oil by reducing or raising the levels of production. At a particular point in time, OPEC vowed to maintain the prices above $ ...
