CRUDE FALL, WHICH STRIKE THE WORLD ECONOMY

THE CONTINUOUS FALL IN PRICE CREATES  SOME HEADACHE FOR MANY COUNTRY ON THE OTHER HAND IT BECOME PLEASURE FOR SOME COUNTRIES.JANUARY 2010 SHOWS THE PRICE $80 PER BARREL. THEN IT INCREASING RAPIDLY TO $115 PER BARREL WITHIN 2011. IN 2011-2012 SHOWS ITS HIGHEST LEVEL BETWEEN $120-130 PER BARREL. THEN IT COMES DOWN TO LESS THAN $50 PER BARREL. NOW WE ARE GOING TO DISCUSS HOW IT HAPPENS-

1. OPEC MEMBERS ARE NOT SETTING ANY PRODUCTION LIMIT.
2. IRAN AND SOME OTHER ARAB COUNTRIES INCREASING ITS SUPPLY FOR ITS ECONOMIC DEVELOPMENT.
3. US, CANADA,VENEZUELA GOING TO EXPORT MULTI BILLION BARRELS OF CRUDE OIL.
4. US STARTED HUGE PRODUCTION OF DISTILLATE OIL TO THE WORLD MARKET.
5. WORLD'S LARGEST OIL PRODUCER RUSSIA EXPORT HUGE CRUDE OIL TO THE MARKET.
6. FEAR OF IMMINENT US INTEREST RATE HIKE.
7. US WITHDRAWN THE COMMERCIAL OIL EXPORT BAN AFTER 40 YEARS. IT CREATES HEAVY PRESSURE IN THE WORLD MARKET.
8. MAY BE SOME FEAR ABOUT FUTURE DEMAND. 
9. PEOPLES SQUARE OFF THEIR LONG POSITION IN OIL IN THE COMMODITY FUTURE MARKET.
10. BECAUSE OF HUGE OIL PRICE IN PAST FORCES SCIENTIST TO INNOVATE NEW IDEAS WHICH REFLECTS IN ELECTRONIC CAR FOR FUTURE LEADS LESS OIL DEMAND AND IT HELPS REDUCE IN GLOBAL WARMING.
11. CONDITION OF COUNTRIES LIKE CHAINA,GREECE, CYPRUS IS NOT GOOD SO SOME EXTENT THE DEMAND FALL.
12. HUGE PRODUCTION OF CHEAP GASOLINE BY THE US REDUCE THE CRUDE OIL DEMAND.
13. MOST OF THE COMPANIES INCREASING THE MILLAGE OF CAR.