Mankind
The oil industries have been a major issue in the world market economy; it has been a distressing factor for many years. In the 1970’s members of the Organization of Petroleum Exporting Countries (OPEC) decided to raise the world price of oil in order to increase their incomes. Recently oil prices in various energy goods like gasoline, diesel fuel, and heating oil have boosted tremendously throughout the country. OPEC is responsible for regulating production quotas, but still the production rate increases.There are some factors that drive the energy prices to increase such as supply and demand. Many people demand a high volume of oil within the United States, but that’s a problem since inventory levels are low. As an immediate consequence oil prices rise and this causes the consumer consumption level to decline. In the past weeks oil inventories have decreased, their level has gone down twenty percent from where it stood a year ago. With summer driving season coming to an end, and take the pressure off the gasoline producers. This allows the inventory level to increase and price reduction. OPEC President Ali Rodriguez said rising oil inventories could lead to a drop in prices next year, and cautioned against large in
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Some common words found in the essay are:
Der Spiegel, Countries OPEC, El Universal, Middle East, Akselsen OPEC, Akselsen Norways, Exporting Countries, Ali Rodriguez, Gulf Coast, , raise output, oil prices, five hundred, hundred thousand, hundred thousand barrels, five hundred thousand, thousand barrels, informal agreement raise, twenty-eight dollars, oil inventories, informal agreement, agreement raise, agreement raise output, twenty consecutive, raise output five,
Approximate Word count = 876
Approximate Pages = 4 (250 words per page double spaced)
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