Buy custom A Rival in Consumption: Petroleum
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Topic: |
Business
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Number of pages / Number of words: |
5 / 1271 |
Essay's paper body
The price of crude oil today is just above $100/barrel leaving the United States gasoline companies low in supply of gasoline, thus causing the prices to rise due to inflation and production quotas.
Being the most prioritized resource around the world, petroleum is a rival in consumption and from the management perspective of OPEC, needs to be regulated through quotas in an outlook to maximize profit and distribute the output accordingly...
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OPECâS production limit today is well short of what the world demands, thus nations suffering bad economies lack the crude oil supply that is preferred at a given price, or they pay a dense quote per barrel as a remedy.
As of 2/08, OPECâs members have been producing 29.67 million barrels per day, about 1 million short of the quota...
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General points of the essay
A Rival in Consumption: Petroleum
Changes in the Supply, Demand and Pricing of Crude Oil and Gasoline
Price of Gasoline
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BRAZIL AND THE UNITED STATES: TWO VERY DIFFERENT SYSTEMS OF ETHANOL PRODUCTION
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