Increased price in oil cause asian crisis
The cost of drilling rigs, for example, the basic tool of the trade, has doubled in recent years. It is unclear whether the U. The increase so far does not appear to be hurting economic growth, but many economists wonder how long that will last. Efforts to manage world commodity markets to achieve price objectives are not unique to the oil market. Russia refused to limit production, and Saudi Arabia doubled increased price in oil cause asian crisis by dumping oil on global markets at steep discounts. From then onwards — particularly after the oil shock caused by the fall of the Shah in Iran — Britain paid much more attention to those areas of the world that could provide stable and alternative oil and gas supplies such as Nigeria and Indonesia. Moreover, a long-standing global trend toward production technologies that use less oil increased price in oil cause asian crisis continue to tamp down increases in demand for oil and thus put pressure on oil prices.