As a commodity, oil tends to see higher price volatility than more stable investments such as stocks and bonds. Several impacts on oil prices will be described in the next section. OPEC Impacts Prices OPEC, or the Organization of Petroleum Exporting Countries, is the primary factor in oil price variations. Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, the United Arab Emirates, and Venezuela constitute OPEC as of 2021. According to statistics from 2018, OPEC controls about 80 percent of the world’s oil reserves. The consortium determines production levels to satisfy global demand and can…
Author: shahbaz
Global power networks are about to face their greatest challenge in decades, as electricity output in the world’s leading economies is stifled. Conflict. Drought. Production deficits. historically low stock levels. And epidemic retaliation. Over the past year, energy markets on every continent have been strained, and consumers have borne the burden of skyrocketing costs. However, things are projected to get considerably worse. The blame lies with the heat. Throughout the majority of the Northern Hemisphere, electricity use peaks in the summer. As climate change strengthens its hold, this year will be extremely hot. In some regions of South Asia, the…
In June, cryptocurrency markets reached a fresh low of 2022. The worldwide crypto market capitalization decreased to $977 billion, below $1 trillion. After reaching $3 trillion in November of last year, the global cryptocurrency market capitalization has decreased by more than $2 trillion. Almost every major coin is currently worth half or even less than its all-time high. The immediate cause of the crypto market fall appears to be a big investor sell-off amid heightened inflation fears and a halt in withdrawals by the crypto loan firm Celsius. In addition, investors continue to avoid risky assets, which is reflected in…