The most likely reason that oil prices spiked during 2007-2008 was because

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22-11-2017
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The most likely reason that oil prices spiked during 2007-2008 was because

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W0lf93 W0lf93 · Answer 1 · 2017-11-30T23:04:47+01:00

W0lf93 W0lf93

30-11-2017

the demand was much, much higher than the supply. Countries like America and China had consumed more oil than was produced. This mean that the price of what little left there was inflated because of the demand.

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