What is a big oil?

The term "large oil" is used to indicate the main oil companies such as British Petroleum, Shell, Exxonmobil and Chevron. These companies control a large share of oil and oil products. 16% of the world's oil, which is available to private corporations, is dominated by these companies that have a huge collective economic, social and political power, especially in industrial countries that are strongly relying on oil products. National oil companies are often criticized for being poorly managed and slow, leading to disturbance of oil reserves around the world. These countries joined in 1960 and created the organization of oil exporting countries (OPEC), which coordinates oil production and sets global prices for barrel. Theoretically, OPEC is to control oil reserves to ensure a constant supply of oil, which process it for sale around the world, but in fact OPEC dominates the global oil market and controls a significant amount of political and economic influence.

In addition to drawing your own oil, large oil companies buy oil from OPEC members and export it to processing plants and refineries that can be found around the world. Using existing data for supply and demand, oil is improved to provide products such as gasoline and natural gas. In some countries, the large oil was accused of manipulating available stocks and prices to make profits. Especially in nations where most citizens are forced to commute, gas prices may be frustrating and incomprehensible.

Since large oil has limited access to global oil supplies, it works hard on extraction of oil from places to which it has access. As a result, the oil supplies are exhausted in areas administered by large oil, which also developed techniques for extraction of oil, slate and other materials that contain trace amounts of rare source. Huge reserveYou OPEC members are a source of frustration for large oil because they are managed inefficiently and can have much higher yields. As a result, it is also difficult to explain oil prices for consumers, especially if most large oil companies are able to change very much profit around the world.