Revision Presentation - The World Oil Market

The forces of supply and demand in the global oil market feature frequently in economics exams.  So here is a revision update on what has happened to the world oil market in the last 12 months. It was a year when crude oil prices recovered quite strongly from their lows at the start of 2009. As we head into 2010, the price of a barrel of crude is rising above $80 and strong economic growth in emerging market countries together with the lagged effects of reduced investment in oil exploration and drilling may take prices closer to $100 in the year ahead.

Launch revision presentation on World Oil Market in 2009

Download revision slide handouts

Investment in Energy Infrastructure [23 May 2012]
Unit 2 Macro: Evaluation on Supply-Side Policies [21 May 2012]
Unit 2 Macro: Migration and the UK Economy [20 May 2012]
Unit 2 Macro: Positive and Negative Multiplier Effects [20 May 2012]
Unit 2 Macro: The Importance of Productivity [20 May 2012]
Q&A: What do we need to know about output gaps? [20 May 2012]
Unit 2 Macro: The Output Gap [20 May 2012]
Unit 1 Micro: Price Elasticity of Supply [13 May 2012]
Unit 2 Macro: Revision Notes on Supply-side Policies [10 May 2012]
Unit 2 Macro: Model answer for revision data question [9 May 2012]
Unit 2 Macro: Growth and Development Glossary [5 May 2012]
Macro Revision: Putting Things in Context [29 Apr 2012]
Tullow Oil and African Development [25 Apr 2012]
Unit 2 Macro: Heathow’s Capacity and Connectivity Crunch [22 Apr 2012]
Unit 2 Macro: Skills Shortages Hold Back Recovery [12 Apr 2012]
Unit 1 Micro: Revision on Price Elasticity of Supply [5 Apr 2012]
Unit 4 Macro: Productivity Improvements in China [3 Apr 2012]
Unit 1 Micro: The Collapsing Price of Carbon [3 Apr 2012]
Unit 1 Micro: Revision on Producer Cartels [31 Mar 2012]
Unit 3 Micro: Revision on Fixed and Variable Costs [31 Mar 2012]
Unit 2 Macro: Revision on Capital Investment [30 Mar 2012]
Unit 2 Macro: Policies to Drive Economic Recovery [9 Mar 2012]
Unit 2 Macro: Might Oil Prices Bring another Recession? [4 Mar 2012]
Unit 3 Micro: World’s Largest Solar Plant Opens [15 Jan 2012]
Unit 4 Macro: Economics of Fiscal Deficit Reduction [12 Jan 2012]
Unit 2 Macro: Factors Driving Business Investment [10 Jan 2012]
Unit 3 Micro: Sub Normal Profits - BP Leaves the Solar Industry [21 Dec 2011]
Unit 3 Micro: Time of Use Pricing for Energy [2 Nov 2011]
Can the “invisible hand” solve Africa’s poverty? [13 Oct 2011]
Unit 4 Macro: IMF Flags up Risks of Double Dip [20 Sep 2011]
Unit 3 Micro: Fixed and Variable Costs [18 Sep 2011]
A gloomy outlook for the global economy [8 Sep 2011]
Unit 4 Macro: Baltic Dry Index and Global Weakening [19 Aug 2011]
Unit 3 Micro: Motorsport Valley and External Economies of Scale [12 Jul 2011]
Zondle Game: 10 Question Quiz about OPEC [11 Jul 2011]
Unit 2 Macro: Reducing Unemployment after a Recession [11 Jul 2011]
Global Economy: Increased risk of future shocks [28 Jun 2011]
AS Macro Key Term: Demand Pull Inflation [24 May 2011]
AS Macro Key Term: Deflation [24 May 2011]
AS Macro Key Term: Spare Capacity [23 May 2011]
A2 Micro: Oligopoly and Collusion [20 May 2011]
A2 Micro: High and Low Marginal Cost Products [19 May 2011]
A2 Micro: Business Growth [18 May 2011]
AS Micro: What´s really behind the oil price rise? [10 May 2011]
AS Micro: Government Failure in Wind Farms [4 May 2011]
AS and A2 Macro Revision: Keynesian Economics [28 Apr 2011]
AS Micro: Importance of Elasticity of Supply [23 Apr 2011]
Rise in investment could kick start recovery [18 Apr 2011]
Key AS Micro Terms: Costs and Profits [16 Apr 2011]
AS Micro: The volatile price of crude oil [9 Apr 2011]
AS Macro Key Term: Under-employment [7 Apr 2011]
AS Macro Key Term: Expansionary Monetary Policy [4 Apr 2011]
OPEC oil revenues set to surge above $1 trillion in 2011 [30 Mar 2011]
AS Macro Revision: Investment Spending [12 Mar 2011]
Never Mind Plan B - Plan V needed for the UK Economy! [17 Feb 2011]
David Smith on Shifting Sands in the Global Economy [8 Feb 2011]
Economics Q&A: Will the Government spending cuts affect inflation? [3 Jan 2011]
Revision: Consequences of Unemployment [1 Jan 2011]
A2 Macro Revision: The Stock Cycle [31 Dec 2010]
Ghana becomes a producer of crude oil [15 Dec 2010]
Tacit collusion between oil producers and consumers? [12 Dec 2010]
Successors to Roosevelt and Kruger - Marine Parks of the Sea [8 Nov 2010]
Experimenting with Google Docs - the Rise of a Digital Conglomerate [8 Nov 2010]
The Market for Potash [30 Oct 2010]
Asia Rising - Thai Car Exports Speeds Up Growth [27 Oct 2010]
Risks of over-capacity in Chinese car making [17 Oct 2010]
Whisky galore - investment in the Scottish economy [29 Sep 2010]
Income elasticity of demand - London’s luxury hotels [26 Sep 2010]
Searching for the right price for water [30 Aug 2010]
Potash - a battle for grey dust that has become gold dust [26 Aug 2010]
The OECD Insights Series [23 Aug 2010]
A selection of revision notes on economic growth and development [4 Jun 2010]
A selection of revision notes on supply side policies [1 Jun 2010]
AS Macro Revision: Policies to Control Inflation [31 May 2010]
AS Macro Revision: Demand Pull Inflation [31 May 2010]
AS Macro: Sterling and the UK Economy [29 May 2010]
AS Economics Revision - Stocks and Prices [22 May 2010]
AS Economics Revision - Oil and Petrol Prices [22 May 2010]
Unit 3 Micro: Efficiency and Price Intervention in Markets [21 May 2010]
The Financial Crisis and Beyond [6 May 2010]
Issues and Prospects for the UK Economy in 2010 [25 Apr 2010]
Capacity utilisation [25 Apr 2010]
Broadband and economic growth [3 Apr 2010]
UK Economy Revision: Inflation in the last few years [1 Apr 2010]
Slumpflation? UK inflation jumps to 3.5% [16 Feb 2010]
Assorted Links (11 Feb): Focus on the UK economy [11 Feb 2010]
Mervyn King on Tailwinds and Headwinds [10 Feb 2010]
Hundreds of jobs lost as Bosch moves from Wales to Hungary [15 Jan 2010]
Salt Union and Elasticity of Supply [7 Jan 2010]
Over-investment in China [30 Nov 2009]
Losing overtime to cut capacity [29 Nov 2009]
Price Volatility in Markets - Teacher Presentation [19 Nov 2009]
UK Recession and Business Capacity - Teacher Presentation [12 Nov 2009]
Warning - Businesses at Risk from Economic Recovery [26 Oct 2009]
Peak oil theory and economic implications [25 Oct 2009]
Sugar prices and production and investment incentives [23 Oct 2009]
Classroom Activity - Economic Cycle in Pictures [20 Oct 2009]
Airlines scramble to find new revenue streams [7 Oct 2009]
Price elasticity of demand for stamps [5 Oct 2009]
Beijing worries that supply is outpacing demand [4 Oct 2009]

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