Principles of Economics Essay
Over the past few weeks we have discussed many different issues within the United States and across the nation. Many things that we use are items that we mostly need on a day-to-day basis. The price of gasoline is a demand that we need and with the price of gas continuing to climb, most Americans can Just barely afford it. I will be discussing how OPEC sees the decline in oil. OPEC, the Organization of Oil Exporting Countries is gradually changing. Their surveys show how the global market is shifting as oil production increases.
They are mainly focusing on price, production, supply and demand. With the company calculating supply from non-OPEC producers they calculate global demand and as a result they calculate what’s left of the pie. Next year because of the supply independent producers – in particular the United States, but not only – is rising faster than demand. So, essentially that leaves less of the market for OPEC next year,” said Richard Swan, editorial director for global oil news at Plats, a leading provider of information on energy, petrochemicals, metals and agriculture.
OPEC estimates that the demand of their oil next year will be around 29. 6 million barrels a
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Businesses today look to see what they can do in order to make a bigger profit, their main goal is to make more money and not to make it easier for the consumers. By transliterations Voice of America News / FIND. (2013, July). OPEC Sees Oil Demand Decline Again Retrieved from http://library. Bacchanal. Com De Cap Report on OPEC / http://www. Vanes. Com/audio/Audio/305051 . HTML OPEC / http://www. OPEC. Org/OPEC_web/en/publications/338. HTML/ 0 2013 Organization of the Petroleum Exporting Countries