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Sample Global Oil Industry Paper

The global oil industry has been very active in influencing the world economy and has a wide impact on the policies and practices of many countries. The industry has seen changing trends since the dawn of the twenty first century. One of the biggest advantages for the industry has been the recent upsurge in oil prices, reaching a high of almost $147 a barrel.

This has been a considerably profitable period for many companies considering the inflated revenues and this has been reflected in the stock prices of oil companies across global stock markets. This allowed the petroleum rich countries to get massive cash influx while heavily petroleum importing countries experienced a down turn. Thus the Middle East and a few countries in Europe and Latin America and the state run as well as private run oil companies observed considerably favorable figures during the years. This extravagant period was put to a halt however with the following decline in oil price.

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