to complete this project step °address the following.
1. Based on the information provided from the International Energy Agency ilEA) in the table on the left, examine the supply and demand graph space below. This information is helpful for our client ExxonMobil to know how much oil to produce. The graph shows crude oil prices per barn supply and demand for the number of barrels in the united States per day. After you have examined the graph below, Identify the price and qua price at which equilibrium exists. This information is important for the client to E.
2. The global demand for oil changes with the changes In global economies. As economic activity increases, the global demand for oil increases. several years, the global demand for oil has increased (https://www.iea.org/ollmarketreportiomrpublic/). As the global demand changes, we can observe th graphically. What changes are expected in the short-term? To answer this question, please see https://www.eia.govioutlooksisteof Support your staterner research and references.
3. What are potential supply and demand risks in the global oil market? Support your statements with research and references. 4. Is the global oil and gas market in a monopoly, oligopoly, or competitive economic model? Why? Support your statements with research and rats 5. When you reflect on your answers for these 4 questions, can you extract any lesson at the individual, firm, industry or country level. (open question) Be as descriptive as possible and credit any sources you use.