Oil Case Study

Watch and Read the case study material

History of OPEC

Saudi Collusion on prices

Opec Members

Oil Price War

Why are gas prices so high

Extension: Find your own research.

Keyword Definition

Oligopoly

Cartel

Collusion

Interdependence

Price War

Niche

CONNECTIVES

Use these in your answers….

CONNECTIVES for AnalysisCONNECTIVES for ApplicationCONNECTIVES for Evaluation

COMPARINGEqually…As with…Like…In the same way…Similarly…Even so…Likewise…

CAUSE & EFFECTConsequently…Due to…As a result…Therefore..Because of…Because…

CONCLUDINGFirstly… After…Secondly… Before…Overall… I believe…Finally… I think …In conclusion… it depends…To conclude… short term…Meanwhile… Long term…

CONTRASTINGAlthough… Except…Moreover… If…However… Yet…Apart from… Unless…Despite…As long as…

EMPHASISINGMost importantly…Significantly…Notably…Especially…Above all…In particular…Indeed…

QUALIFYINGDespite…Yet…As long as… Unless…Apart from… If…Moreover… Except…However…Although…

ADDINGIn addition… And…Too… Also…Additionally… As well as…Furthermore…

ILLUSTRATINGFor instance… Such as…In the case of… So…For example…As revealed by…As illustrated by…

Answer the questions.

1. Define an oligopoly (2m)

2. Explain whether the oil market is an oligopoly (3m)

3. To what extent is the oil market good for consumers. (6m)