Abstract:

After the continued decreasing of oil prices along the decade 1960s, oil prices began to rise continuously since the first half of the decade 1970s to  its end. The price has fallen since the beginning of the decade 1980s and did not reach the level watch was in 1980 until about a quarter of a century ago. The price of a barrel of crude oil was $ 2.1 in 1970 and rose to $ 36 in 1980, and the price dropped to $ 13 in 1986. The price after the last year fluctuated between increasing and decreasing but did not reach the 1980 price ($ 36 a barrel) In 2004..

The situation has not changed much in the new  century  the spot price of the OPEC basket of raw materials rose by 383% between January 2002 and January 2008, but fell by 53% between the first two months of 2008 and 2009 rose in the following years The increase was 169% between January 2009 and 2011. But the price fell again in the years following 2011 and the decline was about 322% between the first month of this year and the beginning of 2016.

Although the rise in oil prices was expected after the period of decline that dominated the prices for nearly two decades, but the volatility was unexpected. There are many factors that have affected prices, some of them which are used since the last century, while others increased in the new millennium. The research is an attempt to study the factors affecting prices.

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