what most likely caused the steady increase in price per barrel of oil between 2001 and 2008?\n○ a global…

what most likely caused the steady increase in price per barrel of oil between 2001 and 2008?\n○ a global recession\n○ scarcity of petroleum\n○ a large population growth\n○ demand from developing countries

what most likely caused the steady increase in price per barrel of oil between 2001 and 2008?\n○ a global recession\n○ scarcity of petroleum\n○ a large population growth\n○ demand from developing countries

Answer

Brief Explanations:

Between 2001 - 2008, developing countries like China and India experienced rapid economic growth, increasing their demand for oil. A global recession would likely decrease demand and prices. Petroleum scarcity is a long - term concern but not the main driver in this period. While population growth can influence demand, the economic growth and industrialization in developing countries had a more significant impact on oil prices during this time.

Answer:

demand from developing countries