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Critical Thinking: Opec and the Global Market (Example)

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OPEC and the Global Market Name Institution Oil Producing and Exporting Countries (OPEC) was established in 1960 with the aim of exerting significant market influence in oil. Collectively OPEC produces about 41% of the world total. This greater share provided them with a great competitive edge in controlling the global market for oil. However more recently a majority of economic scholars noted that OPEC had quite a number of dynamics that were affecting its overall effectiveness in the global market. Over the decade the OPEC as a cartel hypothesis has failed significantly to meet the global demands due to some reasons. Throughout the ten years OPEC mission has been affected by numerous concerns such as geographical risks development of demand and supply change in OPEC objectives as well as other important factors (Colgan 2014). Based on these dynamics this paper aims to critically analyze these dynamics that faced OPEC hope for the OPEC nations. References Asche F. Bellemare M. F. Roheim C. Smith M. D. & Tveteras S. (2015). Fair enough? Food security and the international trade of seafood. World Development 67 151-160. Colgan J. D. (2014). The emperor has no clothes: The limits of OPEC in the global oil market. International Organization 68(3) 599-632. Ftiti Z. Guesmi K. & Teulon F. (2014). Oil shocks and Economic Growth in OPEC countries (No. 2014-064). Gani A. (2015). Oman’s Entry to the World Trade Organisation Trade Liberalisation and Trade Achievements. Atlantic Economic Journal 43(1) 123-134. Khandker A. (2016). Why is the South Korean growth experience different? An analysis of the differences in per capita GDP between South Korea and South Asian countries. Economic Change and Restructuring 49(1) 41-69. Morriss A. & Meiners R. (2012). Competition in global oil markets: a meta-analysis and review. URL: freebeacon. com pdf (Accessed: 25.10. 2014). [...]

Order Description:

In your International Economics textbook, Carbaugh (2017, Chapter 7) provided a historical account of OPEC and its power in controlling the global petroleum supply. In a critical essay, investigate the dynamics OPEC has faced in the global market in the last ten years. You may select a member country and analyze the effects from the perspective of that jurisdiction. Support your findings with additional academic references. Directions: Your essay should be 3-5 pages in length, which does not include the title page, abstract, or required reference page, which are never a part of the content minimum requirements. Support your submission with course material concepts, principles, and theories from the textbook and at least three scholarly, peer-reviewed journal articles. Use the Saudi Digital Library to find your resources. Use Saudi Electronic University academic writing standards and APA style guidelines. It is strongly encouraged that you submit all assignments into the Turnitin Originality Check prior to submitting it to your instructor for grading. If you are unsure how to submit an assignment into the Originality Check tool, review the Turnitin Originality Check – Student Guide for step-by-step instructions. Review the grading rubric to see how you will be graded for this assignment.

Subject Area: Economics

Document Type: Reports

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Project's rating is 5/5

Price $25

Words 825

Pages 3

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Expert Richard Y

Client Review

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