The market structure for oil industry
Prior to reading this Discussion, please read the PA assignment (Below) and understand what the assignment is asking you to complete. Once you have an understanding of the PA assignment, please continue to the paragraph below to complete Discussion.
Your discussion should summarize the articles in such a way that it can justify any arguments you may present in your PA assignment and should be different from the abstract. In addition to your researched peer-reviewed article, you must include an example of the article researched as it is applied by industry (company, business entity, and so forth).
Important: Please ensure that your reference for the article is in correct APA format, as your reference in your discussion post. Depending on which electronic database you use, you should see a “Cite” selection for your article. In addition, there should be a variety of articles summarized and as such, students should have different articles summarized. Your summary MUST include ALL of the following in your DQ post (include every item in the bullet list below, or you will not receive full credit):
Do these in order:
● In correct APA format, write the Reference of the article.
● Clearly state what the article is about and its purpose.
● Describe how you will use it in your upcoming assignment.
● Repeat for a total of six (6) peer-reviewed sources.
write a minimum of four (4) pages of high quality well written APA formatted standard about the following scenario. Please keep in mind that this assignment is quantitative, therefore do not forget to use the figures and charts.
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:
● The market structure for oil industry
● The supply and demand for oil in that market structure
● The pricing of oil at the presence of OPEC and the role of Speculators
● Why shale oil is a substitute for oil and explain the news in regard to the Cross elasticity of demand.