Part of the rapid increase in oil prices was due to:
A) declining demand in OECD countries.
B) falling supplies from OPEC countries.
C) lower inflation expectations in the United States.
D) the financial meltdown.
E) increasing demand in China.

Question

Quizplus · Accepted Answer

Increasing demand in China was a significant factor in the rapid increase in oil prices. As China's economy continued to grow rapidly, its demand for oil also increased, putting pressure on global supplies and driving prices up.

Part of the Rapid Increase in Oil Prices Was Due