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OlL on VERGE


Oil importing countries must give a deep think to their oil barrels. Their business with oil must be apt and precise. Because the supply may not be the same in future as it is now. The quantity of oil barrels may change less proportionately. But for now, the Organization of Petroleum Exporting Countries (formerly OPEC) have agreed to keep the output unchanged at a meeting in Vienna. When OPEC has decided to be stagnant with their production, the colombian rebels attacked Transandino an oil pipeline in the country which seriously did some loss to that oil pipeline.

One may perhaps should be sure that OPEC will not definitely increase its production but it may either lessen the quantity of production or it may produce standstill barrels. When there is more demand and the supply is less, the price will move in an upward direction causing an inverse relationship with demand and price. The oil supply is less and demand for it is increasing rapidly.