概要：
该报告是一个最近世界石油价格波动的余波，探寻是否有显示的补救措施来缓解波动。
介绍：
石油价格正朝着150美元/桶或50美元/桶的方向？原油价格总是在需求短缺或供大于求的时候波动，自20世纪70年代和80年代的价格上涨以来一直处于变动中，四月2008美元一桶原油价格每桶92.93美元。到二月2009，它站在34.57美元，最近几天，它波动约80美元。
这一波动背后的原因是什么？
可以做些什么呢？
可能原因：
以下可以认为是石油价格对全球经济的反应的基本原因：
不正常的数据：
原油消费/生产信息没有得到改善。当我们考虑需求方面，石油消费数据是不确定的，他们在出版延迟时进行修订。完善印度和中国等国家的数据，这将是石油的主要消费者是不可靠的问题变得狭隘了。而在相反的一面，即供应方面的欧佩克生产水平的不确定性扩大石油生产的不确定性。因此需求和供应的不确定性增加了石油市场的波动，通过加大石油缺口，增加投机。
world oil price
概述--Summary:
The report is a sequel to the recent volatility in world oil prices and whether there are realistic remedies available that would ease out the fluctuations.
介绍-Introduction:
Is the oil price heading towards $150/barrel or $50/barrel ? Crude oil prices always swings in times of demand shortage or oversupply and it has been variable since the price increase of 1970s and 1980s. In 2008 April, the price of crude oil was at $ 92.93 a barrel. By February 2009, it stood at $34.57 and in recent days, it been fluctuating around $ 80.
* What are the reasons behind this volatility?
* What can be done about it?
可能原因-Possible Causes:
The following can be considered as the basic cause for oil price responses to the global economy are:-
Improper data:
The crude oil consumption/production information has not improved. When we consider about the demand side, the oil consumption data is not certain and they are subjected to revisions with delay in publishing. The data of developing nations like India and China, which are turning out to be the major consumers of oil are less reliable and the problem is becoming shoddier. While on the opposite side, i.e. the supply side the OPEC production level uncertainty enlarge the oil production uncertainty. Therefore the uncertainty of demand and supply add to the oil market volatility by blowing up the oil gap and by increasing speculation.
Speculation:-
Speculation can be considered as one of the main cause of oil price volatility .Future oil price speculation has led to the overshooting and undershooting of spot prices over the recent period. From the diagram below, which gives the data on volume of oil futures, it is clearly seen that oil futures have grown tremendously. The average intraday trading volume of oil futures in 2002 was four times the demand of oil per day while in 2008 this rise to 15 times the oil demand per day. The above facts can be taken as the clear-cut evidence of the financialization in oil market recently.
-全球衰退-Global recession:
Another most important factor which has affected the volatility is the global recession. It is seen that there has been 6 global recessions within a period of 3 decades from 1970. The first two recessions occurred in 1974-75 and 1980-82 did not immediately affect the oil price but the other four recessions 1991-93, 1998, 2001, 2008 had an immediate effect and the price of oil crashed down as it became evident that global economy was falling brusquely. The OPEC market power was very much stronger before the 1990's than that of now and it was easier for OPEC to prevent the volatility in the earlier period.
结论-Conclusion:
Let me conclude off by stating again that the recent bizarre volatility in oil prices is a natural response to an unexpected, remarkable change in global economy. Financial tensions and economic flaw have produced a corrosive opinion which could persist to be a risk to the global position. Even though, the global slump can be shortened with effective implementation of policy actions, consumer's readiness to pay the price for this valuable commodity would always be a factor which cannot rule out oil price volatility.
解决方案和建议-Solutions and Recommendations:
The course of price alteration has not been smooth over time. During the recent years, there had been phases when prices declined by a huge margin, only to increase afterwards. Now then, Will these volatilities continue in the future? “May be” or “may not be”! Nonetheless, we can implement some policies which help to reduce the volatility in oil price and call a halt to the hefty price sways.
l will opine that following recommendations can be considered to reduce the volatility in oil prices:-
* Appropriate, international, and accurate data on the demand and supply of oil, can reduce the price volatility.
* The financial investors and market regulators need to contribute to improve the clarity, implementation, supervision and finally the demand and supply balance, in the international oil markets.
* Reduce oil consumption by improving energy efficiency.
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