The Importance of Oil on the International Market

Irina Petruca ()
Additional contact information
Irina Petruca: Faculty of Economics and Business Administration, „Al. I. Cuza” University, Iasi, Romania

Review of Economic and Business Studies, 2011, issue 8, 309-320

Abstract: The purpose of this paper is to emphasize the importance of oil on the international market, its role and influence on the world economy. If oil had a remarkable continuity of its use in history, we see that today all modern industry depends on this "black gold", as it is rightly named. Hydrocarbons in the form of oil and its derivatives have become the main source of energy for most of the countries. It is a product that cannot be ignored neither in politics, nor in industry or economy. We can say that it is the product with the strongest influence in these sectors.

Keywords: Influence; oil; international market (search for similar items in EconPapers)
JEL-codes: F19 F20 F50 F51 Q40 (search for similar items in EconPapers)
Date: 2011
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
http://rebs.feaa.uaic.ro/articles/pdfs/122.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aic:revebs:y:2011:i:8:petrucai

Access Statistics for this article

More articles in Review of Economic and Business Studies from Alexandru Ioan Cuza University, Faculty of Economics and Business Administration Contact information at EDIRC.
Bibliographic data for series maintained by Sireteanu Napoleon-Alexandru ().