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 had rapid economic growth, increasing their energy - especially oil - demand. A global recession would likely decrease demand and prices. Petroleum scarcity is a long - term concern but not the main short - term driver here. Large population growth alone doesn't directly translate to increased oil price as it depends on economic activity.

Answer:

demand from developing countries