Posts Tagged ‘today s oil price’

Factors to Set Oil Prices

When thinking of oil prices, most people will likely think of them as the prices which determine all other prices. If it comes the time for oil prices to go up, they will start to prepare themselves to tight their belt as they already know that other things will also get more expensive. Money Morning on will explain how trades or companies of oil set their prices

To set prices for oil needs some factors to take into consideration. One of the factors is the current supply of oil in terms of output. Since a long time ago, this current supply has been controlled by OPEC quotas. The target price of oil set by OPEC is $70 per barrel so that usually the organization will cut the glut supply in order to keep the oil prices in a stable position. But in some rare times, the prices of oil will be allowed to fall.