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3 years ago

How does OPEC actions impact the oil prices around the world especially on “WTI Crude” & “Brent Crude”? And why?

Social Studies

1 answer:

juin [17]3 years ago

3 0

Answer:

The OPEC member countries control a large percentage of the world's oil production which gives them a lot of power to affect world oil prices.

Explanation:

OPEC with a total number of 14 members at present produces about 40 percent of the world's crude oil. Therefore, OPEC actions do affect international oil prices because of the size of the market share the collective controls. However, there are also oil sources beyond the OPEC states. For example, Brent Crude refers to oil that is produced in the Brent oil fields and other sites in the North Sea. WTI is the benchmark crude for North America. WTI is better suited to the production of gasoline while Brent oil favors diesel fuel production. Because together OPEC holds three-quarters of the world's conventional oil reserves and has the world's lowest barrel production costs, it can influence world oil prices and supply by deciding to either produce more or less barrels. If OPEC lowers production the price of oil increases because Brent and WTI have to make up the difference, and their production prices are higher. However, OPEC's ability to affect prices is changing with Canada, China, Russia and the United States increasing their own output in recent years.

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What were some alternatives that president reagan proposed for making dr. King’s birthday a federal holiday?.

trapecia [35]

Some alternatives that Reagan proposed were:

Cancelling out the federal paid leave days after Christmas and New Year.
Using the money the federal government would pay workers on MLK Day for a cause Dr. King supported.

<h3 /><h3>Reagan and Martin Luther King Day </h3>

Reagan was concerned about having a federal holiday in honor of Martin Luther King.
He worried that the government would lose money from having to pay employees on a day when an important figure would be celebrated as this was not done much before.

Reagan's administration then offered the above alternatives but pressure on him led him to approving the federal holiday that is now Martin Luther King Day.

Find out more about Ronald Reagan at brainly.com/question/4784629.

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2 years ago

First major piece of federal antidrug legislation was which act

pickupchik [31]

<span>i believe it was the Harrison narcotics Act.. hope this helps</span>

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3 years ago

What opportunities does Mali have to increase diversification? Explain your answer

PolarNik [594]

Answer:

Acting as a middle-trader between North Africa via the Sahara desert and the Niger River to the south, Mali exploited the traffic in gold, salt, copper, ivory, and slaves that crisscrossed West Africa.

Explanation:

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3 years ago

According to the hudson survey, _____ is the single thing that would make 41 percent of the u.s. workers happier.

Schach [20]

According to the Hudson survey, more money is the single thing that would make 41 percent of the US. workers happier.

This is further explained below.

<h3>What is the Hudson survey?</h3>

Generally, The numerical reasoning section of the Hudson test is designed to measure a candidate's ability to interpret and make use of information that is given in graphs and tables.

This information may include ratios, percentages, currencies, and cost-versus-sales evaluations.

In conclusion, According to the poll conducted by Hudson, more money is the one thing that would make 41% of people in the United States happier. employees happy.

Read more about the Hudson survey

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2 years ago

The pattern in Russia is similar to the U.S.: existing central city buildings in poor condition but in good locations are conver

Anarel [89]

The correct answer is A. Gentrification

Explanation:

The term "gentrification" refers to the process in which neighborhoods or areas that are considered as poor or from low value are transformed into central areas by creating wealthy neighborhoods, new businesses, and important buildings. This process makes cities and area grow but also in most cases displaces former residents as they are unable to pay for goods and services because these become more expensive.

Considering the previous ideas, the pattern described refers to gentrification because in the U. S. and Russia poor areas and buildings are transformed into upscale apartments and as a result of this long-time residents are displaced which implies areas from low value are transformed into central areas and therefore gentrification occurs.

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3 years ago