News Analysis- What is the crux of the high international oil prices.docVIP

 PAGE \* MERGEFORMAT 4 News Analysis: What is the crux of the high international oil prices International crude oil prices have recently soared, continuing the highest price in 10 years on the slight fluctuations. In the UK North Sea oil market, in September the benchmark Brent crude oil for delivery in August 15 once reached 32.8 U.S. dollars per barrel; New York City, naphtha oil prices have risen to 32.37 U.S. dollars a barrel. In addition to the Gulf War, the international crude oil market does not appear for many years, the rise in oil prices so high trend. It so happened, oil prices hovering high, a time when Venezuelan President Hugo Chavez visits of Petroleum Exporting Countries (OPEC) member countries, preparations for the convening of the OPEC summit. Visit to visit, President Chavez has repeatedly said that OPEC should adhere to stable production and protect the price policy, stressing that OPEC solidarity and the principle of acting in concert. Meanwhile, the United States has repeatedly announced that its declining oil inventories have been ‘dropped to its lowest level since 1976’. Western media also took the opportunity to speculation of Saudi Arabia in September the news of the oil may be cut. This turns the ‘information bomb’, so that the expected international crude oil market is more uncertain, the potential surge in oil prices temporarily unable to pick up. Oil prices above 28 dollars a barrel, OPEC decided how the ‘cordon’, Europe and the United States the first to come forward to express their views. The outside world that this is Europe and the United States industrial countries to OPEC and the upcoming OPEC summit meeting to submit the ‘official note’. Trace the origin, the basic factors determining the global price of oil is the oil market supply and demand. United States and Europe finds surge in oil prices due to OPEC production limits, resulting in global oil supply. The OPEC will not agree. The organization’s Deputy Secretary-Gen