What is the major reason for oil price to go up in the 2000s?
A)formation of the OPEC
B)fast of growth of emerging economies
C)new energy
D)higher demand from the US

Question

Quizplus · Accepted Answer

The fast growth of emerging economies, such as China and India, led to a significant increase in global demand for oil in the 2000s. This increased demand put upward pressure on oil prices. While the formation of OPEC and higher demand from the US also had some impact, they were not the major reasons for the oil price increase in the 2000s. New energy sources may have had a long-term impact on oil prices, but their development was not a major factor in the 2000s.

What Is the Major Reason for Oil Price to Go