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ENCO Fundamentals Quiz 3 || A+ Graded Already.

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  • ENCO Fundamentals

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...

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  • October 13, 2024
  • 3
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • ENCO Fundamentals
  • ENCO Fundamentals
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ENCO Fundamentals Quiz 3 || A+ Graded Already.
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 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

Drives petroleum product prices correct answers Crude oil prices

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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