Using supply and demand diagrams, show the effect of the following events on the petroleum market a. OPEC announces increase in oil production. b. Shares for all major electric car manufactures eg - Tesla, Ford, VW and Nissan are up with the announcement of record sales. In other announcements, there is a major disruption in oil distribution given tensions in the middle east

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Using supply and demand diagrams, show the effect of the following events on the petroleum market
a. OPEC announces increase in oil production.
b. Shares for all major electric car manufactures eg - Tesla, Ford, VW and Nissan are up with the announcement of record sales. In other announcements, there is a major disruption in oil distribution given tensions in the middle east.

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Transcribed Image Text:8 6 D .5 Qu, Q. 200 400 600 800 Quantity Price (dollars) 2.
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