Tag: Economic

AI World Journal - The global oil market is governed by a range of macroeconomic factors such as supply and demand dynamics, geopolitical risks, production costs, and technological advancements. As Artificial Intelligence (AI) technologies evolve, there is growing interest in their economic impact, particularly regarding commodity prices like oil. While AI cannot directly influence oil prices, its capacity to optimize production processes, enhance supply chain management, and improve market forecasting positions it as a potential deflationary force. AI’s application in increasing operational efficiency, reducing overheads, and improving risk management could exert downward pressure on production costs and, by extension, oil prices.