Professional Assignment 1 – CLO 1, CLO 2

Read your textbook and other peer-reviewed publications, write a minimum of four (4) pages of high quality well written APA formatted standard about the following scenario.  Please keep in mind that this assignment is quantitative, therefore do not forget to use the figures and charts.

Price of oil in international markets has dropped stunningly 60% in the past twelve months. Among the factors mentioned behind this drastic fall is the millions of barrels of oil produced in the US called shale oil.” and analyze: 

     – The market structure for oil industry

     – The supply and demand for oil in that market structure

     – The pricing of oil at the presence of OPEC and the role of Speculators

     – Why shale oil is a substitute for oil and explain the news in regard to the Cross elasticity of demand. (Chapter 3)

Note:

1. Paper needs to be formatted in APA 7th edition

2. Provide your explanations and definitions in detail and be precise.

3. Provide work in detail and explain in your words. 

4. Provide references for content when necessary. Support your statement with peer-reviewed in-text citations and references.

5. Need to have at least 6 peer-reviewed articles as the references (Recommend to find the articles from ProQuest), which should include the source of the data.

6. Need to include textbooks as references.

7. Please find the textbook and class PPTs in the attachment section.

8. Comment on your finding.

9. Include the initial situation and the initial assumption in your answer.

10. At least 4 pages