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.
Answer:
What term would you use to describe the use of radio, television, print, digital and social media to communicate a message?
Explanation:
Answer: Discount rates are used to determine today's value of money paid or received at some future time.
This calculation is used in the cost-benefit analysis in order to place all economic flows of a project that occur at different points in time into a single year currency so that costs and benefits can be compared.
The rates used are typically around 10%, but try to analyze them with other rates between 5% and 15% to determine if the viability of the project is sensitive to the discount rate. It is defined by World Bank or the government of the country concerned.
Hey there Iwouldkissyouif,
Answer:
It means that the vice president is really close in becoming a president
Hope this helps :D
<em>~Nat♥</em>
Answer:
1. Compare the average global temperatures from the early 1900’s and the early 2000’s. How has the average global temperature changed over the last century?
Explanation:
