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Supply And Demand On Oil

Supply and Demand on oil

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Title: Supply and Demand on oil

Essay Details:

Subject: Business

Author: Donna B

Date: July 17, 2016

Level: University

Grade: A

Length: 1 / 274

Essay text:

The UAE, United Arab Emirates, is one of the biggest suppliers of the Oil in the world, and as a member of OPEC, Organization of the Petroleum Exporting Countries, price and supply of Oil is controlled by the members of the OPEC and Non-OPEC countries. The change that is shown in many of the graphs displayed in the article is due to price changes. However you also have to figure the other changes such as the prices of other products, income, population, cost of production, etc. There is always a point that shows us that a certain price level is accepted by both consumers and suppliers, and in the Oil industry such equilibrium is always favored for many reasons such as to prevent Oil product inventory and refining plants in consumer sides and for more crude Oil exploring and development in producer side...

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