Why does the oil prices go on increasing though the oil production has increased........????

I think it is a speculative bubble in the oil futures market. Traders have been relentlessly piling onto what is perceived as a cash cow. Eventually, as the demand for oil diminishes because of the high prices, traders will begin to take profits by selling their contracts. However, they cannot all do that without crashing the price. When the bubble bursts, many traders will get burned, and the price of oil will plummet, probably well below $100 a barrel.Why does the oil prices go on increasing though the oil production has increased........????
Two reasons, one of whom I'm a bit unsure about and am not too certain about whether I should lay the blame soely on that.





1. There is speculation. People are still buying oil futures, which increases prices. [more demand, even though its artificial-%26gt; means even higher prices]. So that is possibly why gas prices are high. Higher demand still from speculators. However, their role is still debated-- I think they play a role but not the main role.





2. Demand is still high. From other parts of the world, there is high demand right now. China and India have increasing demand. So that is also why oil prices are high.





They'll stay high I think, but I have hope they will go down. I don't support drilling here though-- there won't be enough oil, and no impact (no important impact) from us drilling within offshore places until the year 2030- and that's accoriding to a report from a White House group.Why does the oil prices go on increasing though the oil production has increased........????
Speculators.