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V.L. Oreshnyak, postgraduate of Research University «Kyiv national economic university named after Vadym Hetman», K.P. Babik, third year student of faculty of economics and entrepreneurship of National University of water management and nature resources use.

THE FACTORS AFFECT THE PROCESS OF PRICING ON THE WORLD OIL MARKET

Fuel-and-energy complex takes in the economy of any country a key position and in a large extent determines the development of the state as a whole. FEC consists of fuel industry, includes oil, gas, coal branch, and also electricity and alternative energy. Unfortunately, in spite of the rapid scientific and technological development of society, the share of alternative sources in the modern structure of FEC is minimal and is equal to 8,9%, that distress, because the leading place belongs to oil complex – 39,2%, in turn the gas industry is 25,5%, coal – 21,1% and atomic energy – 5,6% as of 2011 [1].

Almost a century “black gold” takes a leading place in the FEC, the fight for the control of oil deposits became the cause of the World War I (1914-1918) and World War II (1939-1945), Tanker War between Iran and Iraq (1986-1987), Chechen War (1994 - 1996), War between USA and Iraq (beg. 2003), Nuclear warfare (beg. 2011). The result of such struggle for the possession of oil resources is a continuous rise of world oil prices and its derivatives, which include petrol, black oil etc (table 1).

Moreover, considerable pressure on world oil prices has major global exchanges, including New York Mercantile Exchange, Singapore International Monetary Exchange and International Petroleum Exchange.

Table 1

World oil prices (2000 – 2011 years)

Behind given [2]

It should be noted that international oil prices can be determined by some major countries of OPEC with political factors.

It is also important to note the oil price depends on its quality, supply and demand, the general state of the world's oil reserves, and the location of the oil resources in the world in reference to consumers.

Continuous increase of the price of oil and oil products can cause the emergence of energy and food crisis in the world. To endure human society will be extremely difficult, because almost 5 years mankind trying to stabilize its economy after a powerful financial crisis (beg. 2008).

To avoid energy and food crises and the stabilization of the world economy, it is necessary to weaken the influence of factors affect the prices of oil and its derivatives, using alternative energy sources and involvement of resource and energy saving equipment and technology.

List of references:

1. R.G. Pogrebniak. Place of Russia in world power raw sector and its role in a sustainable development during the postcrisis period// Audit and Financial Analysis. - Moscow - 2010. - № 1. - C. 408-412;

2. The price of crude oil - Electronic access mode: http://inflationdata.com/inflation/inflation_rate/.