Supply Chain

IDENTIFY THE FACTORS THAT HAVE INFLUENCED PRICE OF OIL OVER THE further nigh 10 YEARS IN TERMS OF both(prenominal) indigence AND SUPPLY FACTORS. gibe to Maghvereh and Al-Kandari, (2006) Crude anele merchandise is the largest good in the homo. yet, Li and Zhao, (2011) state that the mart charge of inunct has been fluctuating from the twentieth century indicating waving in the economy, they further highlight the in-equilibrum in beat essentialed and supplied of oil as the basic factor that has influenced the price of oil oer the termination 10 long time. To buttress this point, Holscher, et al(2008) highlight the sustained increase in the world oil demand match with a limited supply as a major factor that has influenced oil prices over the death 10 eld. However, for the part of this study the non-homogeneous sub-factors that has influenced oil price over 10 days would be identified and categorized under the two major factors which atomic modus operandi 18 demand factors and supply factors. each(prenominal) of the sub factors to be mentioned infra has however ca utilize an increase or decrease in quantity demanded or supplied of oil, which has implicitely caused a channelise in oil price.

take on FACTORS: The role of demand factors in influencing oil prices over the last 10 years cannot be over-emphasized, in support of this expression Kilan,(2009) mentions that demand factors were slightly of the major factors that has influenced oil prices over the years. However the demand factors that decrease demand for oil are: 1.Global stinting Growth: According to Li and Z hao, (2011), economic growth undergo in the! world over the last 10 years particularly by emerging(Bricsa) and developing economic activities, which also change magnitude the number of industries which indirectly increases the demand for oil as most of the machineries used depend primarily on oil to function. 1.Speculations of oil burnish shortages: The anticipation of shortage in oil supply out-of-pocket to political unrests, wars, natural disasters e.t.c have largely influenced the price...If you want to trust out a full essay, order it on our website: OrderCustomPaper.com

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