What affect the price of oil???

 Although we still have enough reserve of oil, the price was in previous weeks increasing a lot. The reasons may be almost invisible for common people. My task is to present some of them to you. The first is rebelion in Libye because befor the rebelion had Libya produce 1.6, milion galons of oil every day and now it had reduce to 85% of the original amount. The second reason is fear of loosing Saudi Arabia as it is also one of the biggest producer of oil. But the real factor is OPEC - Organization of Petroleum Exporting Countries. This organization has to decide the price of oil, and control 75% of all produced oil and specify amount of oil that producer may quarry. So at the end, I can say, as a beginner in economy, that price of oil is affected more by things, we will never get together with oil and that is a mircle of economy and reasons what is happening to price of oil.

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