an increase in demand for oil along with a simultaneous increase in supply of oil will,

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In the first three months of this year, both demand and supply of oil increased. In fact, these two factors have been in an upward trend since the middle of last year. Increased demand for oil is due to higher industrial production rates and increased vehicle miles traveled. At the same time, there has been greater availability of supplies globally which has led to a reduction in prices at some points during that period. The result is an increase in US imports which offset any potential decrease in exports from countries with restrictions on trade and production like Venezuela or Iran.” Keywords: Oil Demand Supply, Oil Prices, Increased Production , Increased Demand, US Imports The Story: “Oil demand and supply increased at the same time” – an increase in demand for oil along with a simultaneous increase in supply of oil will lead to higher prices. In the first three months of this year both demand and supply of oil increased. The result is an increase in US imports which offset any potential decrease in exports from countries with restrictions on trade and production like Venezuela or Iran.”

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