THE IMPORTANCE OF OIL ON THE INTERNATIONAL MARKET
THE IMPORTANCE OF OIL ON THE INTERNATIONAL MARKET
Author(s): Irina PETRUCĂSubject(s): Supranational / Global Economy, Energy and Environmental Studies, Environmental and Energy policy, Financial Markets
Published by: Editura Universităţii »Alexandru Ioan Cuza« din Iaşi
Keywords: oil; international market; influence;
Summary/Abstract: The purpose of this paper is to emphasize the importance of oil on the international market, its role and influence on the world economy. If oil had a remarkable continuity of its use in history, we see that today all modern industry depends on this "black gold", as it is rightly named. Hydrocarbons in the form of oil and its derivatives have become the main source of energy for most of the countries. It is a product that cannot be ignored neither in politics, nor in industry or economy. We can say that it is the product with the strongest influence in these sectors.
Journal: Review of Economic and Business Studies (REBS)
- Issue Year: 2011
- Issue No: 8
- Page Range: 309-320
- Page Count: 12
- Language: English
