Factors That Influence Oil Prices
Energy Information Agency Asessment
As part of its Energy and Financial Markets Initiative, the U.S. Energy Information Agency (EIA) is assessing the various factors that may influence oil prices — physical market factors as well as those related to trading and financial markets. The following describes seven key factors that could influence oil markets and explores possible linkages between each factor and oil prices. Supply: OPEC Crude oil production by the Organization of the Petroleum Exporting Countries (OPEC) is an important factor that affects oil prices. This organization seeks to actively manage oil production in its member countries by setting production targets. Historically, crude…
