As we enter summer, we’ve seen the usual trend of oil prices rising.
It’s the same thing we’ve been seeing over the last few years as oil supplies continue to grow.
But, the price of crude oil has been soaring in recent months.
In June, oil prices rose by an average of 1.3% a month, a number that rose to 1.6% in July.
That’s up from 0.7% in June and 1.4% in May.
This was partly driven by higher demand, as the US government and the international oil exporters have increased their purchases of oil from China and the Gulf States.
At the same time, demand has slowed down as the OPEC and non-OPEC oil producers have pushed back production.
OPEC is now the largest producer in the world and non-“OPEC” oil is the third largest, after Saudi Arabia and Russia.
However, the real problem for the oil market is that prices are going to have to fall in the future.
With demand still falling, prices have been rising in the past two months.
At the end of June, prices were up by 0.8% a year, which was the fastest increase on record.
At this point in time, it’s not clear that the oil price will go any higher.
In the next three months, we could see a steep fall in oil prices.
Prices are expected to fall by an even more dramatic level than this.
The reason for this is that OPEC and the non-Opec oil producers are likely to ramp up production of crude.
This is due to the oil glut that’s happening.
The problem with this scenario is that it could push prices up again, but it won’t be a stable price for long.
However, if the price does rise, it will be due to some of the worst problems facing the global economy.
This will be exacerbated by the global economic recession, as global production continues to decline and prices continue to fall.
When will the global oil price go down?
The world economy has been on a long decline.
The global economy grew at an average annual rate of 3.9% between 2015 and 2017.
The US economy grew by only 1.5%.
The world economy is now in its third year of recession, and is expected to be in recession for the next five years.
It’s not just the US economy that is in trouble.
The UK and other developed economies are also facing the same problems as the rest of the world.
These economies have had their output slashed by around $2 trillion in the last year alone, as their oil supplies have dried up.
These cuts in output mean that the UK has lost $2.5 trillion in GDP in the same period.
This has led to the UK losing the lead in the EU for the number of jobs, while the US has lost the number one spot for the amount of jobs.
If the global economies were to suffer a similar downturn, then the UK could see their GDP decline by around 2.7%.
The EU has been facing a similar situation, with its unemployment rate hovering around 10%.
If the UK were to have the same economic downturn, it would mean that around 15,000 people would lose their jobs, which would take the UK’s unemployment rate to 17%.
These figures show that there is a severe and widespread problem with the way the world economy operates, and that we are currently in a global recession.
Is this going to be a one-off event?
We have seen this sort of global economic crisis before.
During the Great Depression, the US lost over 12 million jobs during the Great Recession.
In the last ten years, the eurozone has experienced a similar recession, with unemployment rising from 5% to 12%.
We may never see another global economic collapse like the one we experienced in the 1930s.
The biggest risk to the world’s economy, however, is that we may see a prolonged and severe recession.
Will this be the end for oil?
Oil is not going anywhere anytime soon.
We are going through a period of global financial turmoil and economic stagnation.
If oil prices stay high, we may have to face a new world order.
What is your opinion on the global energy market?
Is there a silver lining for oil prices?
Are you worried about global oil supply?