Factors that affect crude oil prices correct answers Supply & Demand
Geopolitical events
Economic Events
WTI correct answers West Texas intermediate, used as the benchmark for oil prices for the U.S., Mexico, Canada, & parts of South America
GDP correct answers measures the value of produ...
WTI correct answers West Texas intermediate, used as the benchmark for oil prices for the U.S.,
Mexico, Canada, & parts of South America
GDP correct answers measures the value of products exported from a country
OPEC oil embargo correct answers Arab OPEC countries imposed an oil embargo on the U.S. &
Netherlands because we supported Israel in the Yom Kippur war.
Lead to the creation of the Trans-Atlantic Pipeline.
U.S. has not had formal relations with Iran since 1979.
Brent correct answers Mediterranean crude
Mars correct answers Gulf of Mexico crude
Tapis correct answers African crude
Dubai correct answers Middle Eastern crude
U.S.'s best oil export market correct answers Asia
Oil forecasting correct answers determines how companies will price oil & make decisions
When inventory is down, either: correct answers Demand is higher than expected
Supply is lower than expected
Portion of commodity trading related to Energy correct answers 1/3
Average barrel of oil will produce correct answers 45% Gasoline
30% diesel
10% jet fuel
U.S. oil export ban correct answers Lifted in 2015/2016, allowing U.S. to become a net oil
exporter
Purification of oil correct answers trying to remove sulfur
Pipelines (PL) correct answers Safe, reliable and Cost effective
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