One of the basic commodities that you can never live without aside from food, shelter and clothing is oil. The price of oil is always increasing and at some point, it also decreases, but over a decade, it has increased for about 10,000 to 11,000 barrels of oil consumption every year. So why does oil become a necessity? It is important because it helps you live each day, such as your need to cook your food, to pump up gas for your car and other means of livelihood that accommodates the use of oil.
Oil has made a great impact even towards the community and throughout the whole world. Why so? It is because it helps those people who are jobless, meaning to say, the use of oil is in a wide range of variation that it helps big companies to hire more people to benefit with the use of oil. Imagine if there is thousands of oil consumed, there will never be a scarcity of people from not having jobs. The contribution of oil is significant to all human life. Without oil, the continuity of poverty and many lives will be affected.
How oil price hiked affected people?
Since not all people can afford it, either for the reason that you do not have a job, or you have a minimal wage. Nothing will change, you cannot afford to buy, it fills you so much stress as to how you’re going to live each day because the higher the oil price, the lesser you become a consumer of it. As a result of this, if you are a business marketer, you will either increase or decrease your pricing. People will eventually have to change their lifestyle as well to meet the demand of whatever the oil price may be.
What could be a possible reason for oil to become a problem if it has dropped?
Oil became a staple necessity to all people. If oil becomes too low, it is just like it falls off from the ground. In this case, there is a decrease in production, and as this goes down there will be so many substitutes for oil such as lead. There is a collapse of exporters of oil, unemployment and there is a decline in oil production.
Investing in stock commodities, such as oil, can be a risk sometimes because you can never tell as when their prices are lowered or not. It is important that you are aware of how the stocks are ranging about. You must be updated with the price of the oil. The purpose of the oil chart will help you see how things are going well with the oil pricing. In this way, you will know how much you’re gaining or losing at the same time.
Why is oil a good investment? As long as you have the knowledge and strategy in investing oil, you need to have a good solid ground for you to be able to stand on your own feet without having to worry.