Okuneva S.E. Research Center for Advanced Financial Planning, Macroeconomic Analysis and Financial Statistics, Research Financial Institute, Moscow, Russian Federation firstname.lastname@example.org
Importance The paper analyzes the quantitative and qualitative characteristics of the world oil market and the factors that have a key influence on the main directions of its change. Objectives The article aims to identify the current trends and assess the future prospects for the development of the world oil market. It explores the dynamics of the crude oil price and the reasons of its fall since mid-2014. The work studies changes in supply and demand of the key market players. Methods Statistical and graphical methods were applied to carry out a research on the oil market. A systems approach was also used to describe the coherent picture of the world oil market. Results I present an assessment of the current oil market situation. I also identify the factors that can contribute to oil market stabilization in future and the threats that can undermine its balance. Conclusions The world oil market is quite fragile and its dynamics will mainly depend on the actions of the largest oil producers. In addition, the further development of renewable energy sources may have a significant impact on the world oil market.
Keywords: market, price, oil, world, renewable energy source
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