What is the supply and demand for crude oil in the world?

what is the reaction in the market in pakistan to the oil price fluctuations in the world?What is the supply and demand for crude oil in the world?
the rate at which the united states uses oil products vs the rate in which we have to replenish the supply from foreign country's vs our relationship with that countryWhat is the supply and demand for crude oil in the world?
I think the answer is simple that the supply of crude oil in the world is less than that of the increasing demand. This is not just in the case of crude oil but in every product ,now the supply is less than that of demand. As a result the price level of the product is going up and up, which is explained in the Law of Supply in Economics.
Crude oil is used for lots of different products, When it is refined, it is split into different forms, some gaseous and some liquid. its main use is octane, which is the stuff that makes petrol. Other uses are plastics like polypropelyne.
It is a farse. The supply and demand is a puppet act controlled by the worlds oil cartel and rich corporations. There is no shortage of oil in the world.


The supply is greatly regulated by the policies of OPEC. OPEC determines how much oil they will release onto the global market. If they release less of that oil than what is needed this increases the demand, therefore the price rises. If they crank out more than what is needed this produces a surplus and the price of oil decreases.


The supply and demand is man controlled, like someone flicking a light switch on and off.


Ofcourse this doesnot comply if there is a natural disaster that interrupts our ability to refine or transport of this oil but that's in extreme cases in most cases this is controlled by profit margins.