Question

Discuss one important change that has occurred in the global oil market.

Answer 1

The global oil market has changed a lot in the past decade.

Explanation:

1. The global oil market has issued various changes in the past decade.
2. Environmental friendly policies and reducing environment harming activities have resulted in changes in the process of extraction of crude oil.
3. Moreover, all the available resources of oil are being utilized so the supply of oil is increasing worldwide. However, the price of crude oil has increased significantly for certain nations.

Answer 2

Answer:

prices went from over $110 per barrel in mid-2014 to below $50/b at the beginning of this year. Collapsing prices have hurt oil exporting countries while giving an economic boost to the consumers of energy. These direct consequences have been felt for a while. And now that oil prices have recovered a bit, the worst (and best) of the economic impact might be over. It is time to think about the more fundamental forces that will be shaping global oil markets going forward.

Explanation:

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