All of the following would lead to lower oil prices except: a. USA increases # of...

All of the following would lead to lower oil prices except:

a. USA increases # of oil rigs due to fracking technology d. The weekly EIA # shows more than expected capacity available. b. Cease fire between all OPEC nations, peace deals between Saudi Arabia & Iran. c. Corona virus vaccine is discovered, world commerce goes back to normal Flag

Expert Solution

Answer = correct option is A

Reason = USA increases # of oil rigs due to fracking technology will not lower the price of oil since the cost of production is increasing due to which supply will decrease and as result price of oil will increase

Rahul Sunny answered 2 years ago

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All of the following would lead to lower oil prices except: a. USA increases # of...

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