# But first, a little bit of history:
# <center>[¿How are oil prices determined?](https://www.thebalance.com/how-are-oil-prices-determined-3305650)</center>

<center><a href="https://www.thebalance.com/how-are-oil-prices-determined-3305650"><img src="https://fm-static.cnbc.com/awsmedia/chart/2019/09/16/oil.1568645347181.png" alt="Futures Contracts"/></a></center>

# <center>And remember: In 2008 briefly after the financial crisis turmoil, oil prices reached a record high of $145/b.</center>

Therefore, very recent events in the conflict between [Yemen](https://www.theguardian.com/world/2019/sep/29/houthis-claim-killed-hundreds-saudi-soldiers-captured-thousands) and Saudi Arabia shows that oil global supplies could get tighter while you read this post. And these are [events](https://www.nytimes.com/2019/09/16/business/oil-prices-markets.html) in full development.

# <center>Why are oil prices no longer as predictable?</center>

> The oil industry has changed in four fundamental ways:
1. U.S. oil production. 
2. Uncertainty over OPEC's clout. 
3. The fluctuating value of the dollar. 
4. And shifts in oil demand.

> **Currently [U.S.](https://www.thebalance.com/oil-price-forecast-3306219) oil domestic demand is about 19.96 million barrels per day.** ***Go figure!!***

<center>https://www.eia.gov/todayinenergy/images/2019.01.16/chart2.png</center>

> ***While [China,](https://www.bbc.com/news/world-asia-china-49891769) now consumes 13% of global oil production.***

https://www.youtube.com/watch?v=vG9rkUlN_Cw

**Remember:** In 2008 briefly after the financial crisis turmoil, oil prices reached a record high of $145/b.

And recent [events](https://www.youtube.com/watch?v=luzSgHRVZv8) in the conflict between Yemen and Saudi Arabia shows that oil global supplies could get tighter sooner than later.

> “If a full-fledged war between Iran and Saudi Arabia breaks out, there would be no limit to how [high prices](https://www.nytimes.com/2019/09/16/business/oil-prices-markets.html) could go,” *said Jay Hatfield, portfolio manager at InfraCap MLP, an exchange-traded fund that invests in oil pipelines.* <sub>[«Latest Updates»](https://www.aljazeera.com/news/2019/09/saudi-oil-attacks-latest-updates-190916102800973.html)</sub>

https://www.youtube.com/watch?v=4Ip18KZ9aZc

# So, *then...*

***Didn't you know the Venezuelan cryptocurrency The Petro [(PTR)](https://en.wikipedia.org/wiki/Petro_(cryptocurrency)) is a stablecoin backed by the federal government’s natural reserves of the country's oil and precious minerals and is attached to the price of a barrel of oil?*** **¿Nope?** *Ok, then let me tell you a bit more.*

And there is an available [PetroApp](https://www.petro.gob.ve/petro-app.html ) wallet with which you can manage your Petros (PTR) jointly with your Bitcoins, Litecoins & Dash right there within this same PetroApp wallet. And certainly you also can [buy](https://sunacrip.gob.ve/casas.html) and bidirectionally exchange your Petros with BTC, LTC y Dash?

<center><a href="https://www.cryptonewsz.com/venezuelas-petroapp-now-allows-users-to-buy-petro-token/19683"><img src="https://coinnewstelegraph.com/wp-content/uploads/2018/10/venezuela-starts-international-operations-with-petro-cryptocurrency.jpg" alt="PetroApp"/></a></center>

Oh yeah! of course fellows. Don't take anything of this as investments or financial advice whatsoever. Obviously I am no expert in these matters.

I am simply a humble and sharp observer of worldwide events. And witnessing from the front row how these **world events** directly affect me every day standing in a first class oil producer country. ***Often I wonder!!***

# <center>¡Heck! *¿Why not?*</center>
<center><a href="https://www.petro.gob.ve/calculadora.html"><img src="https://www.cryptonewsz.com/wp-content/uploads/2019/05/New-Venezuelan-PetroApp-Reportedly-Enables-Purchases-with-Cryptocurrency-766x405.jpg" alt="Petro Calculator"/></a></center>
<center><sup>***"If there is even a cool online [calculator](https://www.petro.gob.ve/calculadora.html) to gauge the rocket fuel to the moon daily"***</sup></center>

# So, crypto astronauts...

#### <center>¿Do you wanna your Lambo quickly or not?</center>
<center>https://upload.wikimedia.org/wikipedia/commons/0/07/Lamborghini_Veneno.jpg</center>
<center><sup>Leave a comment. Share your experiences and feedback. ¡Be part of the conversation!</sup></center>

# <center>«««-$-»»»</center>

#### <center>"Follows, Comments, Resteems & Upvotes will be highly appreciated"</center>

<center><a href="https://steemit.com/@por500bolos"><img src="http://i65.tinypic.com/2mq2gt3.jpg" alt="Cranky Gandalf"/></a></center>

# Cheers!!