The rise and fall of the price of oil will effect the entire economy in this world, including me and my family. Because oil is such a important resource for production of goods and service that are produced, a change in the price of oil will affect everyone in this society. Maybe will increase the use of the product that needs oil, but maybe will decrease in the use of the product that needs oil. OPEC is the organization that controls the price of oil in the entire world. If the price of the oil is drooped, than people in this society will use more product that needs oil, but the producer of the oil maybe will decrease of the production of the oil because the producer wants to make more money so that he or she can gain more benefit. And then this situation will make a shortage of the oil, and the price of the oil will rise. When this kind of situation comes, the people will be not using the product that needs oil less. But then the producer of the oil will produce more because the rise of the price of the oil will make them make more money. Cars and other vehicles are the most common example in our life that needs oil to motivate the engine to move. The airplane ticket price will rise because of the rise of the price of oil. Bus ticket will also increase because the price of the oil increase, in order to make as same as the profit they made before, they have to increase the price of the ticket.
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