What Will happen To The Price of Oil In The Future?

[Good-Person]

Oil is a very important kind of commodity. We also know that oil is also one of the most important commodity because it has many uses. The fact remains that it is used in cars, machines, etc. Much of the crude oil is also used to create fuel as well. This also makes oil a very important and valuable commodity in the first place. However, do you think that oil will retain its value in the future?

 

[Grant]

I'm more worried about us running out of oil, as one day that is going to happen. We don't have an infinite amount of oil on this planet. We might have untapped oil somewhere out there, but it's not easy to find. If oil starts to fade out, then expect prices to get pretty high.

 

[Nomad]

Oil prices are high and the demand for oils is also very high. However, I do not think prices will always remain high and the demand will always remain high. Many countries and businesses are focusing on renewable energies like solar, hydro, wind, etc. In the future, renewal energy source will establish as number one energy source.

 

[Riberet19]

I think that sooner or later the price will end up falling, in my country it is already doing so, falling by almost 15%, in addition to the fact that the purchase of electric and hybrid vehicles is also being encouraged, which is why people are gradually transitioning to this new model of vehicles.

 

[Good-Person]

I'm more worried about us running out of oil, as one day that is going to happen. We don't have an infinite amount of oil on this planet. We might have untapped oil somewhere out there, but it's not easy to find. If oil starts to fade out, then expect prices to get pretty high.

This is why there are so many companies that are not at all depending on oil. They have actually stopped producing vehicles that require petrol. Some of the companies will stop producing vehicles that need petrol. They know that oil has a limited supply, so they must find an alternative way of running vehicles.