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Should Opec keep selling oil at a low price (Example)

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Name: Instructor: Course: Date: Should OPEC Keep Selling Oil at a Low Price? One of the most watched and controlled commodity price is that of oil. The reasoning is unquestionable and is easily evident in the demand and what role oil plays in the world economy. Oil prices are determined by the global forces of supply and demand. OPEC as one of the major players endeavors to standardize these prices to ensure a smooth running in the economy and to prevent inflationary or deflationary effects that may be caused by the oil prices (Pitt and Leung 15). Since the oil prices have been demand driven higher oil prices has not been the fundamental element bringing on the recent financial crisis in the North America Japan and a few individuals from the European Union. This essay explains why OPEC should insist and keep their oil prices low in the short production by cost expansion of investigation improvement and production of petroleum. On the other hand keeping the prices low for the moment ensures that the players in the market are profitable enough and supplement the huge demand for oil. Therefore it will be a wise option for the world economies if OPEC to continue selling oil at low prices for now and in the foreseeable short run but review the price to have it increased in the long run. Works Cited Cordesman Anthony H and Khalid R Al-Rodhan. The Global Oil Market. Washington D.C.: CSIS Press 2006. Print. Fukunaga Ichiro Naohisa Hirakata and Nao Sudo. The Effects Of Oil Price Changes On The Industry-Level Production And Prices In The U.S. And Japan. Cambridge Mass.: National Bureau of Economic Research 2010. Print. Pitt Edward R and Christopher N Leung. OPEC Oil Prices And LNG. New York: Nova Sciences Publishers 2009. Print. [...]

Order Description:

Argumentative essay. And your standing should be yes short term but not long term. Intro Body 1 Body 2 Counter argument Conclusion minimum 3 sources or more MLA style

Subject Area: Economics

Document Type: Reports

This project has already been completed by one of the Studybay experts. The client rated this project:

Project's rating is 5/5

Price $20

Words 825

Pages 3

Completed in 3 days

Expert Dr.McKogei

Client Review

Fantastic work! This writer hit every mark requested and utilized all materials requested. He is worth every bit of the expense!

Positive
03.20.2016

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