Oil vs Dollar – Its affects on world economy

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Note 1: In world every good has a price, demand side and a supply side. The higher demand OR lack of demand hints supplier to increase OR decrease price of a good accordingly.

Note 2: Someone told you "An apple a day keeps doctor away". Now you decide to eat apple and you think its nutrients rich. People like you think similarly, such that, apple gains prominence.

Now combine above two NOTE and read on. You have 100(some currency) with you and you went to market on a bicycle to buy apples. Seller says each apple is 12, you bargain badly with seller. Finally both of you agree on 10 per apple, and you bought 10 apples for 100. Both seller and buyer are happy (don't worry about how much it costs for the seller; limit your imagination to this transaction under current market conditions of this buyer and this seller). Now someone goes in a BMW car to buy apples from the same seller, this guy will not bargain and buys at 12 per apple. Essentially 100 fetched buyer1 10 apples, for buyer2 8.333~ apples.

What if apples production is scarce? Now seller will not heed to buyer 1 bargain and for buyer 2 this seller might quote a higher price (say 15). In this scenario buyer1 gets 8.33 apples for his 100, buyer 2 gets 6.666~ apples for his 100.

What if there are abundant apples? Now this Seller might drop the price to 10 per apple. Buyer 1 will still bargain for 8 per apple and gets 12.5 apples for 100. Buyer 2 will get 10 apples for his 100.
Moral of the story is, any "Good" be it apple, t-shirt, gold or Oil, the price of it is determined based on goods availability, the quality of goods, suppliers greed, purchasers bargaining ability, purchasers financial ability etc.. Which are called market forces. With this knowledge lets now try to understand recent trend in decreasing Oil prices, how it affects $, how it is affecting Russian Ruble and Indian Rupee.