(On June 19 BingXu), July 14, 2006, the international crude oil price volatility.

2006 7 14, the New York Mercantile Exchange, crude oil futures prices influenced by the Iran nuclear issue, once a record $ 78.40 a barrel, the highest record in history. Since then, with the increase in global crude oil inventories, the market for crude oil supply fears of tension eased, oil prices began to come down substantially, has fallen below $ 60 a barrel. On October 20, the Organization of the Petroleum Exporting Countries (OPEC) decided to cut crude oil production to prevent oil prices fell sharply. Currently, the New York market, oil prices fluctuated around $ 60 a barrel. The drop in oil prices is conducive to the sustained growth of the world economy.