Understanding the global oil market

Abstract

To understand why the oil prices have gone up involves not only reading the figures and the current news. It is necessary to go over the history to learn how the present situation and the oil market have been shaped. That is the purpose of this article. Once this is done, it becomes clear that to continue a dependency of oil to move the economy of a country like El Salvador is nonsense, it is to act against common sense. However, to escape from such dependency implies the device of a local energy-producing strategy, which is extremely difficult in a country that has not constructed its own vision of the future yet.