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What do economists tell us about why oil prices are what they are and what is going to happen to them in the future?

How did they reach these conclusions? what theories and concepts do they consider to be most relevant?

Do you find their analysis convincing? why or why not?

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What do economists tell us about why oil prices are what they are and what is going to happen to them in the future?

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What do economists tell us about why oil prices are what they are and what is going to happen to them in the future?

Most economists had rationalised the steep and consistent rise in the price of oil for the past few years, as one being caused by a steep demand and supply mismatch. The standard explanation was that oil prices must be rising either because oil supply was falling or that global demand was rising. The most prominent factor for the oil price rise according to these ...

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