Oil Factors!
The price of oil, depicted on a graph, is primarily influenced by supply and demand dynamics, geopolitical events in major oil-producing regions, actions of the OPEC group, global economic conditions, currency exchange rates, technological advances, environmental regulations, weather disruptions, and speculative trading.
Analyzing oil price graphs shows how these factors interact, causing fluctuations and trends over time. These factors can change, making it crucial to monitor them for understanding the oil market's behavior.
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