Markets in Action - Crude Oil Prices

This study resource contains two short videos exploring supply and demand factors that influence the global price of crude oil.

Markets in Action - Supply and Demand in the Global Oil Market

In this video, we look at some of the key supply and demand factors that influence prices in the global market for crude oil. We also mention the role of OPEC as a swing producer aiming to influence the direct of world crude oil prices.

Markets in Action - Changing Equilibrium Prices for Oil

In this second video, we analyse how changes in market supply and demand can cause changes in the market clearing price for crude oil on world markets.