Sign In
Not register? Register Now!
Essay Available:
You are here: HomeEssayMathematics & Economics
3 pages/≈825 words
3 Sources
Mathematics & Economics
English (U.S.)
MS Word
Total cost:
$ 12.96

Demand, Supply, and Equilibrium Price of Oil (Essay Sample)


Type of paper
Number of pages
Format of citation
Number of cited resources
Type of service



Demand, Supply, and Equilibrium Price of Oil
(Student’s Name)
(Affiliated Institution)
(Instructor’s Name)
Due Date
This assignment examines two articles addressing demand, supply and the equilibrium price of oil. Demand changes with the variation in the equilibrium price of crude oil and its products such as petroleum, diesel, gasoline, and other oil energy products. The first article by the U.S Energy Information Administration explains the determinants of crude oil prices: demand and supply. Change in demand and supply for this product is driven by a country’s economic growth. High economic growth leads to increased production activities. This increases demand for oil and the equilibrium oil price rise. The second article discusses three main factors influencing change in oil prices. These are Demand, Supply, and Traders. Traders look at current supply, future supply, demand to determine oil prices. Currently supply relates to the quantity oil availed in the market. Increased supply will flood the market with oil, lowering demand and oil prices. Future oil supply is determined by oil reserves. The reserves are used to lower higher oil prices when supply is low and price is high.
Demand, Supply, and Equilibrium Price of Oil
Demand is the quantity of goods and services consumers are willing and can pay for a certain price and time. Market demand presents demand for particular products and individual consumers ready to buy them. It is determined by how willing they are to spend a certain price on a particular good or service. The higher the demand the higher the increase in price, and vice versa. Supply is the amount of goods and services available for consumers (Hofmeyr, J.-H.S & Cornish-Bowden, 2016). In this assignment I will address articles that discuss demand, supply, and equilibrium price of crude oil. Change in demand 

Get the Whole Paper!
Not exactly what you need?
Do you need a custom essay? Order right now:

Other Topics:

  • Elastic and inelastic demand Mathematics & Economics Essay
    Description: Elasticity of demand is used in decision-making processes in predicting changes in demand as a result of changes in some factors (Pettinger, 2019). Marginal analysis on the other hand is the use of managerial economics therefore important in decision-making processes. This paper will explore price...
    3 pages/≈825 words| 5 Sources | APA | Mathematics & Economics | Essay |
  • Analysis of Starbucks Incorporation. Mathematics & Economics Essay
    Description: Starbuck Incorporation is an American based coffeehouse chain and internationally recognized brand. The incorporation initial ideas were hatched at university of San Francisco by three partners; English teacher Jerry Baldwin, history teacher Zev Siegl, and writer Gordon Bowker...
    6 pages/≈1650 words| 6 Sources | APA | Mathematics & Economics | Essay |
  • Profitability in the Banking Sector Mathematics & Economics Essay
    Description: The Australian banking industry is the largest sector in the country’s financial system as it holds an estimated 55 percent of the financial institutions’ assets (PwC, 2019). As at 2017, the banking sector comprised of 174 deposit-taking institutions regulated by the various entities...
    8 pages/≈2200 words| 17 Sources | APA | Mathematics & Economics | Essay |
Need a Custom Essay Written?
First time 15% Discount!