likewise prices depend on competition and competitors never know what other producing countries and companies will do
changes (consider, ducer because United States displaced Russia as the largest oil and gas pro competition, and of innovations in fracking technology) se, prices depend on do. At any never know what other producing countries and companies export rate, we have discussed reasons for out oil sales, thus the decision is a "given" from the country's standpoint. We should point that, since beginning of the twenty-first century the global price of oil has fluctuated substantially even though cent in monthly prices in been a trend towards higher prices. For instance, the the highs 2008 were percent higher than they per the and in 2007. Then than the yearly lows within particular years are compared rather and price trends have even greater. Some of the factors influencing price changes duction cutbacks been the uncertainty following Chinese economic expansion, pro countries (e by OPEC, 9 various oil-producing economic Libya, Venezuela, embargoes and the global crisis that began and Iran. seasonal abnormal temperatures, each good throughout the in 2008. Nevertheless. Russia's export position has been generally year twenty-first century's first decade, with favorable balances of trade But that have helped to pay for both imports and a high level of external credit what about to absorb s dreams? Despite a growing domestic market, Russian demand is prices all of Overall, it has been able to sell more oil at higher ing, it outside Russia than it could just a few years ago. Further, if LuKoIL curtail export might incur a political backlash were deemed of the Russian government as a result of economic policies favorable for the entire economy. In addition to its increase in sales through exporting practice has to amass a substantial store of capital that been able to channel into foreign investment