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Oil Prices Essay

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Below is an essay on "Oil Prices" from Anti Essays, your source for research papers, essays, and term paper examples.

Increasing in Oil prices
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Instructor

Dr. Abdul Waheed

Mohammad Farooq MBA – Weekend (5130)

Business Economics

INDEX
S.No Content
01 02 03 04 05 06 07 08 11 12 13 Introduction World Oil reservesi World Oil production Demand Supply Historical Oil prices Factors Affecting Supply, Demand And Oil Prices How prices are determine Steps to control prices Conclusion Bibliography

Page #
03 04 06 07 08 10 10 11

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Introduction
The petroleum industry is commonly considered to comprise upstream and downstream sectors. Upstream involves exploration, development, and production of oil and gas. During exploration, wells are drilled in search of an undiscovered pool of oil or gas. Crude oil and petroleum products are widely traded and effectively have a single price after allowing for transportation costs and quality differences. One characteristic of oil that is much talked about is its price volatility. Oil in Pakistan Pakistan has oil reserves of around 358 million barrels as on June 2010. The major part of produced oil comes from the reserves located in the southern half of the country, where the three largest oil producing fields are located In addition, some producing fields are located in the middle and upper Indus. Since the late 1980s, Pakistan has not experienced many new oil fields. As a result oil production has remained fairly flat, at around 60,000 barrels per day. While there is no prospect for Pakistan to reach self sufficiency in oil, the government has encouraged private (including foreign) firms to develop domestic production capacity

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World Oil reserves
At end 1990 Thousand million barrels 33.8 11.2 51.3 96.3 1.6 4.5 2.0 1.4 0.8 0.6 60.1 0.6 71.5 n/a 0.6 0.8 n/a 8.6 1.5 n/a n/a 4.0 n/a 65.3 80.8 92.9 100.0 97.0 4.4 3.0 260.3 1.9 98.1 2.0 0.1 659.6 9.2 1.6 – 0.8 3.5 – 0.9 22.8 17.1 0.3 1.7 0.9 58.7 3.2 1.1 16.0 5.6 5.4 3.6 0.3 0.2 1.0 36.3 1003.2 At end 2000 Thousand...

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