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September 26, 2023

Analyze The market structure for oil industry

DU Management The Market Structure for The Oil Industry Essay Price of oil in international markets has dropped stunningly 60% in the past twelve months. Among the factors mentioned behind this drastic fall is the millions of barrels of oil produced in the US called “shale oil.” Analyze: ? The market structure for oil industry ? The supply and demand for oil in that market structure ? The pricing of oil at the presence of OPEC and the role of Speculators ? Why shale oil is a substitute for oil and explain the news in regard to the Cross elasticity of demand.

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