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Everyone got caught up in the debate of deflation, Greece and the Ukraine crisis and so expectations were quite low, it now seems the deflation story is a positive one for the euro zone since cheaper oil means consumers spend less on energy and have more money in their purse.
According to the internet Wikipedia (Encyclopedia): An oil is any nonpolar chemical substance that is a viscous liquid at ambient temperatures and is both hydrophobic and lipophilic. Oils have a high carbon and hydrogen content and are usually flammable and surface active.
Another definition of Oil for today: Oil: lifeblood of the industrialised nations Oil has become the world’s most important source of energy since the mid-1950s. Its products underpin modern society, mainly supplying energy to power industry, heat homes and provide fuel for vehicles and aeroplanes to carry goods and people all over the world.
Oil-Rich: From Longman Dictionary of Contemporary Englishoil-richˌoil-ˈrich adjective [only before noun] British English an oil-rich country has plenty of natural oil under the ground from which it is able to make a lot of money the oil-rich Gulf StatesExamples from the Corpusoil-rich.
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