As we know, after reached their highest price ever (147 USD perbarrel), oil price was starting to crush down. Why it could happen? The answer is so simple, when the oil price reached their highest level the biggest oil producer country like Iraq, Iran, and Venezuela were banned by UNESCO and now allowed to sell his oil to the market. Although there are another country who also as oil producer but that 3 countries has a big share for world’s oil production. so without them, oil’s demand wouldn’t full supported with enough amount of oil.

When UNESCO was allowing that countries selling their oil, of course there isn’t demand problem anymore. Some expert from OPEC predicted that oil price will back to 70.