The supply and demand of crude oil has deen eased so much. They say, tanks of both consuming and producing countries are full of oil. Therefore, the producing countries in the Middle East Will try to maintain the present level of crude oil prices by reducing their production, While someone think of the price elasticity as such an important factor that the supply will overflow in near future.
The participation in the Gulf countries has made rapidly, the complete nationalization by the host countries will come in near time. This means that the disposal right of crude oil is to be transferred from majors to host countries. So the crude oil market in tne world will be changed so much.
Consuming countries, with taking into considerations after oil crisis, which include U. S. A., European countries and Japan, are now introducing the new energy program like Project Independence of America. Above all, the construction of nuclear plants are most expected to expand.
