World & OIL
Due to the global economic downturn, and OPEC's decision of maintaining output at current levels increased the price of the oil. According to the article, it says that by the end of the year, a barrel of oil will cost about 75~80 dollars. However, it also notes that, "The price rise is a function of optimism that better things are coming in the future." Meaning Despite the price of oils increasing, there will be better materials to replace oils in the future. There are some cases where the price of oil has been blocked due to the economic crisis. Also the price of the oil may go down because of the shortage of oil storage. Therefore, when there is no place to store oils, people won't buy oils, and the price of the oil may decrease. However, oil investors have been searching for new oil wells, or develop old oil wells. By the time recession, which was blocking the oil price to increase, depletes the oil prices will once again rise. Nevertheless, the good news is the oil prices will be kept at an average, even though the price elaborate.
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