{"id":2143,"date":"2022-07-15T03:40:12","date_gmt":"2022-07-15T03:40:12","guid":{"rendered":"https:\/\/reddypipe.com\/?p=2143"},"modified":"2022-07-21T03:43:00","modified_gmt":"2022-07-21T03:43:00","slug":"what-really-affects-oil-prices","status":"publish","type":"post","link":"https:\/\/reddypipe.com\/what-really-affects-oil-prices\/","title":{"rendered":"What Really Affects Oil Prices?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"2143\" class=\"elementor elementor-2143\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3657b6f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3657b6f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-71bb8de\" data-id=\"71bb8de\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-053b746 elementor-widget elementor-widget-text-editor\" data-id=\"053b746\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">In the current economic and world climate, it can be hard to understand just what really affects oil prices as prices at the pump continue to rise. Unfortunately, it is a bit complicated and there are a lot of answers to the same question. In this article we will attempt to help you understand what factors play into ever-changing oil prices.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2587273 elementor-widget elementor-widget-heading\" data-id=\"2587273\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-large\">Supply<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0633432 elementor-widget elementor-widget-text-editor\" data-id=\"0633432\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">As with any global product, supply inherently affects the price of oil. If, for some reason, supply suddenly gets boosted, that should reflect a drop of price at the pump. For instance, when there were less cars on the road during covid, we saw the price of oil fall into the negative price per barrel because supply was building up. On the other hand, the war in Ukraine is causing a drop in global supply because countries are sanctioning Russian oil, leaving less oil in the global circulation.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4d00391 elementor-widget elementor-widget-heading\" data-id=\"4d00391\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-large\">Demand<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3d77df1 elementor-widget elementor-widget-text-editor\" data-id=\"3d77df1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">As we mentioned in the above paragraph, demand also plays a large role in the price of oil and the price you see at the pump. Typically, demand only grows as the world population grows and transportation becomes more widespread in more cities around the world. This leads to growth in oil prices. However, during the pandemic, we saw extremely low demand as flights were canceled and less people traveled by any means.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0675dfd elementor-widget elementor-widget-heading\" data-id=\"0675dfd\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-large\">Geopolitics<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7fd751e elementor-widget elementor-widget-text-editor\" data-id=\"7fd751e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Unfortunately, it&#8217;s not as simple as supply and demand that decides oil and gas prices. <\/span><a href=\"https:\/\/www.cnbc.com\/2018\/05\/15\/what-drives-oil-prices.html\"><span style=\"font-weight: 400;\">Geopolitics<\/span><\/a><span style=\"font-weight: 400;\"> play a big role in changing oil prices. If a conflict begins or is perceived to begin soon, gas prices may preemptively rise or fall depending on the situation \u2014 well before supply or demand are even affected. The potential effect on their future based on geopolitics is largely what influences changing <\/span><a href=\"https:\/\/reddypipe.com\/\"><span style=\"font-weight: 400;\">oil prices<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>In the current economic and world climate, it can be hard to understand just what really affects oil prices as prices at the pump continue to rise. Unfortunately, it is a bit complicated and there are a lot of answers to the same question. In this article we will attempt to help you understand what [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":2144,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What Really Affects Oil Prices? - Reddy Pipe &amp; Supply<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What Really Affects Oil Prices? - Reddy Pipe &amp; Supply\" \/>\n<meta property=\"og:description\" content=\"In the current economic and world climate, it can be hard to understand just what really affects oil prices as prices at the pump continue to rise. 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