Economics
Santa Monica College Oil Prices Been Dropping Because of Pandemic Analysis

Santa Monica College

Question Description

I’m working on a Economics question and need guidance to help me study.

Here is a 5-point extra credit assignment:

I would like you to do a basic research (nothing fancy; nothing big; should not be too time consuming either) on the reasons why the price of oil has been dropping so much lately in the past weeks. You should apply the basic concepts of supply and demand into this paper; perhaps introducing the current Coronavirus situation into the analysis because, after all, Coronavirus fear across the globe does play a big role to the current drop of the price of oil worldwide. This should be a one-page, 2-paragraph, type (of course) and double-spaced paper.


Student has agreed that all tutoring, explanations, and answers provided by the tutor will be used to help in the learning process and in accordance with Studypool's honor code & terms of service.

Final Answer

Attached.

Running Head: OIL PRICES

1

SOil prices
Name
Institution Affiliation
Course
Date

OIL PRICES

2
Oil Prices

Oil prices have been dropping at a higher rate in the past few weeks. The demand for oil
products has been low despite the prices becoming cheaper, while supply is still increasing amid
the low prices. The world most significant oil producers have failed to agree on cutting
production to combat the falling prices since the coronavirus ...

Timesaver (20145)
Boston College

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