Exxonmobil Voy 2012 .pdf | Updated
clean product and tank inspection required.n Tanks must be degassed by the owner if necessary. All this raises the real price of oil. The lower price of oil is due to the fall of the dollar, and not to a decrease in its production. Recession. The relationship between the price of oil and GDP is not direct. Even with stagnation, the share of oil exports in domestic production changes little, which indicates that the supply and demand curve is not close to a straight line. The increase in the share of oil exports is not a reason for the decline in oil prices. The growth of the share of exports is influenced by the change in the indicator of total exports, in which the share of oil is less than 50%. The worst situation is in the OECD countries, where the share of exports has decreased to 37% (for oil). This means that already this year oil will become an expensive commodity, and GNP will fall. Africa. Here the situation is worse, since the share of exports is almost 40% and almost 50% is the share of oil in GDP. But this does not mean at all, as mentioned above, that at low prices oil becomes a poor material for production. As the share of exports decreases, the competitiveness of oil in relation to other products drops sharply. The higher the price of oil, the more difficult it is for countries to keep from raising prices. Rising oil prices lead to the depreciation of national currencies, a decrease in the share of oil in exports and an increase in inflation.
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