Is there a 'right' price for oil? [Year 13 Enrichment Task}

Both of this week's enrichment tasks for economics students are based on the extraordinary events in oil markets in the last few days. For year 13 students (and year 12's who would like to have a go at this topic) the question posed asks them to consider all stakeholders in the oil industry, from producers and employees to competing producers of renewable fuels, and decide whether there is such a thing as a 'right' price for oil, and how such a price might be set.

For a reminder of the meaning of 'stakeholders', look here: https://www.tutor2u.net/economics/topics/stakeholder

Yr 13 4 Is There A Right Price For Oil And How Would You Set It