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Case Study in Supply and Demand

Case Study in Supply and Demand. The World Oil Market. Crude Oil Prices. Nominal $ Inflation-adjusted 2011 US$ 2011. $/barrel . Supply: Crude Oil Production . 000s barrels/day. Change in World Oil Price 1979 -1980. Supply 1980. $/barrel. Supply 1979. 30.

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Case Study in Supply and Demand

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  1. Case Study in Supply and Demand The World Oil Market

  2. Crude Oil Prices Nominal$Inflation-adjusted 2011 US$2011 $/barrel

  3. Supply: Crude Oil Production 000s barrels/day

  4. Change in World Oil Price 1979 -1980 Supply 1980 $/barrel Supply 1979 30 20 Demand 1979 (000s of barrels/day) 64,000 56,000 0

  5. SUPPLY: Crude Oil Production, OPEC Countries 31,000 23,000

  6. SUPPLY: Crude Oil Production, Non OPEC Countries

  7. References http://www.eia.gov/petroleum/reports.cfm?t=66 http://www.wtrg.com/prices.htm

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