Oil industry
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Do you see increasing/decreasing/or stable demand in the oil industry?
Is there a potential for new suppliers to enter the oil industry?
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Solution Summary
The prospects for the oil industry over the next several years are determined. The response addresses the queries posted in 913 words with references.
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The response addresses the queries posted in 913 words with references.
//This paper deals with the scenario of oil industry. In this scenario, we have covered few areas. They are the future prospects of oil industry, demand of oil industry across the globe and whether new suppliers should enter in the oil industry. //
Prospects for the oil industry in the upcoming years will slowdown due to the threats of global economic recovery. Oil industry's demand is increasing, but it will not increase at a high rate as the economy is bad across the globe. Oil industry will not face problem related to the supply as the supply of oil will be constrained. In the next several years, the price of oil will increase more as the prices of identifying the oil and developing it has also increased. Prices are also increased to keep up the company's investment which helps into full utilization of the oil drilling rigs and in the development of new projects. Expansion projects of increasing oil capacity are delayed and cancelled (Bantillo, 2010).
As the companies have reduced the expenditure on production and exploration across the globe, these projects are delayed. As the prices of oil are reducing, the oil companies will have to match the raw materials of the project by reducing the raw materials. The taxes on the oil industry are increasing at high rate. This is also one of the factors in delaying the development of new projects. Therefore, underinvestment by the producers of the oil industry will lead to problems and this will increase the ...
Education
- MBA (IP), International Center for Internationa Business
- BBA, University of Rajasthan
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