MIEC Project TR03 Group 5 by Joanna Tay https://padlet.com/JoannaJung/h7bjplw6d2eo en-us 2018-11-15 02:48:48 UTC 2025-11-09 23:15:00 UTC hello@padlet.com World Oil Demand & Supply https://padlet.com/JoannaJung/h7bjplw6d2eo/wish/304628236 Article published on: 14/11/18
-The world oil demand has been increasing with some fluctuations from 2014 to 2018
- It has increased from about 94mb/d in 2014 to about 99.84mb/d in 2018
- The world oil supply has been  
has also been increasing with some fluctuations from 2014 to 2018 
-It has increased from about 95.34mb/d in 2014 to about 100.74mb/d
- The oil supply had increased sharply towards the end of 2016, with gains in the Middle East, Russia and the United States greater than compensating for losses in production in Iran, Venezuela and elsewhere. 
]]> 2018-11-15 03:00:47 UTC https://padlet.com/JoannaJung/h7bjplw6d2eo/wish/304628236 Oil Demand in Japan https://padlet.com/JoannaJung/h7bjplw6d2eo/wish/304628486 - The statistic has shown the decrease in demand of oil in Japan
-  There is a decrease in demand of oil from 4.4 million barrels per day in 2013 to 3.7 million barrels per day in 2016
- There is also a projected decrease in demand of oil from 3.7 million barrels per day in 2016 to 2.1 million barrels per day in 2040]]> 2018-11-15 03:02:38 UTC https://padlet.com/JoannaJung/h7bjplw6d2eo/wish/304628486 Demand and Supply in U.S. JoannaJung https://padlet.com/JoannaJung/h7bjplw6d2eo/wish/304629897 Articles published on: 14/11/18
 
The crude oil market in United States has shrink over a quarter of its original value. 

Recently, the market for crude oil has recently flipped which also means that the market supply exceeds market demand due to a decrease in the consumption by consumers. The article also stated that the drop of oil prices is due to macro funds getting out of the crude trade and rotating into natural gas futures. The demand of natural gas has increased to 60% over the last two months as the colder weather has gone beyond expectations. 
]]> 2018-11-15 03:09:09 UTC https://padlet.com/JoannaJung/h7bjplw6d2eo/wish/304629897 Market equilibrium of oil shuyuguo87 https://padlet.com/JoannaJung/h7bjplw6d2eo/wish/304630816  The Organization of the Petroleum Exporting Countries(OPEC) has announced that the supply of oil have been increasing.
Oil supply is increasing 98.9mb/d
Oil demand: 98.82mb/d
Oil supply is increasing at 2.02mb/d
Oil demand increasing at 1.62mb/d 
Since the supply of oil is growing greater than the demand, oil price can expect a drop in the near future.]]> 2018-11-15 03:13:52 UTC https://padlet.com/JoannaJung/h7bjplw6d2eo/wish/304630816 Changes in Supply and Price of oil kellykohmz https://padlet.com/JoannaJung/h7bjplw6d2eo/wish/304631543 Article published on: 11/11/18 
-Major oil producers are considering changing of course and the cutting of production of oil.
-Mentioned that the gap between supply and demand of oil could widen next year. 
-Oil prices have rose strongly this year due to potential future supply shortages, but slow decrease in price have recently been observed.
- Brent crude, the international benchmark, has fallen almost 20 percent to just over $70 a barrel from about $86 a barrel on Oct. 4. 
-Reasons for drop in price includes increase in production of oil
-Saudis suggested to cut production by half a million barrels a day beginning next month ]]> 2018-11-15 03:17:48 UTC https://padlet.com/JoannaJung/h7bjplw6d2eo/wish/304631543 Elasticity of Oil in Singapore shuyuguo87 https://padlet.com/JoannaJung/h7bjplw6d2eo/wish/304634708 Although Singapore tries to reduce the number of cars that are on road. However, the number of cars are not reducing much. 
In this case, citizens of Singapore needs petrol to run their cars. regardless of the price of the petrol price in Singapore, citizens are willing to pay for it. Especially Singapore is a highly developed country where the residents are earning high incomes, petrol prices fluctuation doesn't affect a big part of their life.
Thus, oil price is inelastic to Singapore residents ]]> 2018-11-15 03:36:03 UTC https://padlet.com/JoannaJung/h7bjplw6d2eo/wish/304634708 Future of Oil kellykohmz https://padlet.com/JoannaJung/h7bjplw6d2eo/wish/304636433 Article published on: 09/10/18
-Demand for oil continues to grow despite increased focus on controlling emissions due to global warming.
-There are already growing signs that global demand for oil will peak and decline to some degree by the late 2030s]]> 2018-11-15 03:47:32 UTC https://padlet.com/JoannaJung/h7bjplw6d2eo/wish/304636433 Current Output & Global Oil Market Equilibrium https://padlet.com/JoannaJung/h7bjplw6d2eo/wish/304637011 Article published on: 14/9/18
- It was mentioned that current oil outputs should be able to keep the global oil market balanced]]> 2018-11-15 03:51:11 UTC https://padlet.com/JoannaJung/h7bjplw6d2eo/wish/304637011