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Theoretical–Methodological Principles of the Problem

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World Market Price of Oil

Part of the book series: SpringerBriefs in Economics ((BRIEFSECONOMICS))

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Abstract

The roles that hydrocarbon resources, including oil products as energy carriers, play in the economy and in the life of people are undeniable. Thus, a demand arises for oil and oil products as energy carriers. Oil has been extracted for many years, and it is already produced in more than 100 countries that contribute to the supply of oil and oil products. The changes in supply and demand for oil continuously maintain the volatility of the oil price, increasing the interest of producers and consumers in oil prices.

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Notes

  1. 1.

    A widely used indicator characterizing solar activity is the Wolf number, which is the number of spots and groups of spots on the Sun. It is named after Rudolf Wolf, who lived in Zurich, Switzerland, and was the first person to quantify the activity of spots and group of spots on the Sun.

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Authors and Affiliations

  1. Azerbaijan State University of Economics, Baku, Azerbaijan

    Adalat Muradov, Yadulla Hasanli & Nazim Hajiyev

  2. Harvard University, Cambridge, MA, USA

    Nazim Hajiyev

Authors
  1. Adalat Muradov
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  2. Yadulla Hasanli
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  3. Nazim Hajiyev
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Muradov, A., Hasanli, Y., Hajiyev, N. (2019). Theoretical–Methodological Principles of the Problem. In: World Market Price of Oil. SpringerBriefs in Economics. Springer, Cham. https://doi.org/10.1007/978-3-030-11494-7_1

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