The rising prices of oil are a cause of concern for many. Many countries which are not so stable financially find it hard to meet the oil demands of their country owing to the sky rocketing prices of oil barrels. There is a hope for some relief as far as oil prices are concerned because market analyzers have predicted a sharp fall in the price as well as demand of oil.
The true picture remains to be seen. Oil finds its use for a lot of domestic purpose. Hence, all countries irrespective of their financial status are in need of oil. They would need to import it if they do not have ample reserve in their country as almost all vehicles need oil as fuel for running. Hence, the world saw the necessity for curbing the growing price for oil.
But, unfortunately as per increasing demand, the prices were on an increase rather than going down. With the world population booming at an alarming rate, there is no lessening of demand for oil and oil products. However, as the world has been hit by the strikes of global recession, the odds are that this time, oil industry is likely to suffer as well. As the blows of recessions are getting stronger, it is believed that the once extremely profitable oil industry is no longer free from the aftermath of recession. Market analyzers are sure that their theory is sure to pass as they have analyzed the different trends and market rules before coming to the conclusion that oil prices are likely to take a dip in the near future.
The developing countries are sure to heave a sigh of relief as they were finding it hard to manage their oil requirements with the shooting prices. But, all this would happen only if recession hits hard which is not a good sign in itself.
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