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borishaifa [10]
3 years ago
11

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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Diff between national and regional government
Ivanshal [37]

Answer:

There are many difference between National government and Regional government.

Explanation:

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8 0
3 years ago
In a single day, more than ________ people's lives are affected simply by driving a motor vehicle.
Arte-miy333 [17]
The answer to your question is A

5 0
3 years ago
Read 2 more answers
True or false since 2000 aaron donald is the only dt to win defensive rookie of the year
larisa [96]

Based on historical records, it is true that since 2000 Aaron Donald has been the only DT to win defensive rookie of the year.

<h3>Who is Aaron Donald?</h3>

Aaron Donald is National Football League (NFL) Player in the United States. He currently plays for Los Angeles Rams, playing the position of Defensive Tackle known as DT.

In the 2017 and 2018 seasons, Aaron Donald won the Defensive Rookie of the year consecutively.

However, since 2000, no DT has ever won the Defensive Rookie of the Year.

The last DT to win the award was Warren Sapp in 1999, playing for Tampa Bay Buccaneers.

Hence, in this case, it is concluded that the correct answer is True.

Learn more about National Football League here: brainly.com/question/7193361

3 0
2 years ago
What did president obama do in his second term that involved dealing with a historic enemy of the united states?
harkovskaia [24]

His administration helped broker a nuclear energy agreement with Iran.

<h3>Who is Barack Obama?</h3>

Barack Hussein Obama II, an American politician born on August 4, 1961, presided over the country as its 44th president from 2009 to 2017.  He was the principal African-American leader of the United States and an individual from the Democratic Party. [2] From 2005 to 2008, Obama addressed Illinois as a U.S. congressperson, and from 1997 to 2004, he addressed Illinois as a state representative.

The 44th President of the United States was Barack Obama. His life is a microcosm of the American experience: ideals from the heartland, a solid middle-class background, the belief that success comes from hard effort and education, and the conviction that a life so blessed should be spent helping others.

To learn more about Barack Obama, Visit: brainly.com/question/17044209

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6 0
1 year ago
There are several unique characteristics of qualitative research that make it distinct from quantitative research. Describe the
Juli2301 [7.4K]

Answer:

Quantitative research is statistical: it has numbers attached to it, like averages, percentages or quotas. Qualitative research uses non-statistical methods. For example, you might perform a study and find that 50% of a district’s students dislike their teachers.

Explanation:

Characteristics of Qualitative Research.  

Findings are judged by whether they make sense and are consistent with the collected data.

Results are validated externally by how well they might be applicable to other situations. This is tough to do; rich, detailed descriptions can help to bolster external validity.

Data is usually collected from small, specific and non-random samples.

Actions of the researcher that can compromise the integrity of the findings:

Intellectual honesty in proposing, performing, and reporting research refers to honesty with respect to the meaning of one's research. It is expected that researchers present proposals and data honestly and communicate their best understanding of the work in writing and verbally.

When a researcher do not exemplify and transmit the values associated with ethical scientific conduct” (NAS, 1995, preface).

5 0
3 years ago
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