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Analyze the market structure for oil industry

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Reference no: EM132995499

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." and

Analyze:

Question 1: The market structure for oil industry

Question 2: The supply and demand for oil in that market structure

Question 3: The pricing of oil at the presence of OPEC and the role of Speculators

Question 4: Why shale oil is a substitute for oil and explain the news in regard to the Cross elasticity of demand.

Reference no: EM132995499

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