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The Importance of Oil on the International Market


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  • Irina PETRUCA

    (Faculty of Economics and Business Administration, „Al. I. Cuza” University, Iasi, Romania)

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    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.

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    Bibliographic Info

    Article provided by Alexandru Ioan Cuza University, Faculty of Economics and Business Administration in its journal Review of Economic and Business Studies.

    Volume (Year): (2011)
    Issue (Month): 8 (December)
    Pages: 309-320

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    Handle: RePEc:aic:revebs:y:2011:i:8:petrucai

    Contact details of provider:
    Postal: Universitatea Al. I. Cuza; B-dul Carol I nr. 22; Iasi
    Phone: 004 0232 201070
    Fax: 004 0232 217000
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    Related research

    Keywords: Influence; oil; international market;

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