Price of oil

The price of oil, or the oil price, generally refers to the spot price of a barrel of benchmark crude oil. The price of a barrel of oil is highly dependent on both its grade, determined by factors such as its specific gravity or API and its sulphur content, and its location.

As with all commodities, the oil price is determined by the balance between supply and demand. The supply of oil is dependent on geological discovery, the legal and tax framework for oil extraction, the cost of extraction, the availability and cost of technology for extraction, and the political situation in oil-producing countries. Both domestic political instability in oil producing countries and conflicts with other countries can destabilise the oil price. For example, the Iranian Revolution of 1979 led to a jump in oil prices.

The demand for oil is dependent on global macroeconomic conditions. According to the International Energy Agency, high oil prices generally have a large negative impact on global economic growth.

Latest News for: Argan oil price

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17 best beauty and makeup must-haves from the Yellow Friday Sale in UAE

Gulf News 25 Nov 2022
Maybelline New York Colossal Kajal Argan Oil Khol Eyeliner, Black. Maybelline New York Colossal Kajal Argan Oil Khol Eyeliner Image Credit ... Blended with highly charged pigments, and argan oil, this eyeliner produces an intense black colour that lasts for up to 12 hours ... Eucerin Oil Control Sun Gel-Cream, SPF 50+, 50ml....
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Herbal Shampoo: Top picks for natural hair care

The Times of India 24 Nov 2022
A herbal shampoo sometimes referred to as a natural shampoo, is created without the use of toxic chemicals and instead uses natural components including essential oils, and plant and flower extracts ... Click here for the Prices. Herbal Essences Moroccan Argan Oil Shampoo ... Click here for the Prices....
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Hair Conditioners for Dry Hair Under Rs. 1000

The Times of India 22 Nov 2022
Your hair is more prone to breakage, in addition to looking untidy 90% of the time, especially during winter, hair suffers the cold winds and therefore goes dry ... WOW Skin Science Moroccan Argan Oil Conditioner. Click here for the Prices ... Click here for the Prices ... Click here for the Prices. Mamaearth Argan & Apple Cider Vinegar Hair Conditioner ... ....

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