Question

Why Oman is exporting its gas products to all the countries and not its oil products?

Why Oman is exporting its gas products to all the countries and not its oil products?

Homework Answers

Answer #1

Natural gas as Commodity has seen higher demand and acceptability due to its local usage for daily needs and thus demand has grown such that prices rose and thus makes viable sense to export.

However, crude oil has seen prices in negative territory due to oversupply of WTi crude oil, over storage of tankers and absolute low demand coupled with price wars from OpEC and Russia causing subdued demand and oversupply and thus rock bottom prices causing no sense to export crude oil.

PLEASE UPVOTE INCASE YOU LIKED THE ANSWER WILL BE ENCOURAGING FOR US THANKYOU VERY MUCH ALL THE BEST IN FUTURE

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
The opening statement on the website of the Organization of Petroleum Exporting Countries (OPEC) says its...
The opening statement on the website of the Organization of Petroleum Exporting Countries (OPEC) says its members seek “ . . . to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers and a fair return on capital for those investing in the petroleum industry.” To achieve this goal, OPEC attempts to coordinate and unify petroleum policies by raising or lowering its members’ collective oil production. However, increased production by the United States,...
Suppose that China and the Oil Exporting countries announce that they will each sell 30% of...
Suppose that China and the Oil Exporting countries announce that they will each sell 30% of their investment in US government bonds. All other things equal, you would expect that: a. bond prices in the US would rise and the US interest rate would fall b. bond prices in the US would fall and US interest rates would rise. c. bond prices and interest rates would both decline d. bond prices and interest rates would both rise What is the...
Question four (15 marks) The opening statement on the website of the Organization of Petroleum Exporting...
Question four The opening statement on the website of the Organization of Petroleum Exporting Countries (OPEC) says its members seek “. . . to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers and a fair return on capital for those investing in the petroleum industry.” To achieve this goal, OPEC attempts to coordinate and unify petroleum policies by raising or lowering its members’ collective oil production. However, increased production by Russia, Oman,...
Which countries are the leading producers and consumers of Oil, Coal, and Gas?
Which countries are the leading producers and consumers of Oil, Coal, and Gas?
The Organization of Petroleum Exporting Countries (OPEC), in its heyday, could be considered as a cartel...
The Organization of Petroleum Exporting Countries (OPEC), in its heyday, could be considered as a cartel operating with a fringe of price-taking smaller firms. Suppose the world demand for oil is given by p = 400-Q , with p in dollars per barrel of oil and Q in millions of barrels per month. The fringe marginal cost curve is MCf = 40+0.5Qf (with Qf and MCf also in millions of barrels and dollars per barrel, respectively), and OPEC’s cost of...
Over the last 30 years the Organization of Petroleum Exporting Countries (OPEC) has had varied success...
Over the last 30 years the Organization of Petroleum Exporting Countries (OPEC) has had varied success in forming and maintaining its cartel agreements. Explain how the following factors may contribute to the difficulty of forming and/or maintaining its price and output agreements. a. New oil fields are discovered and increased drilling is undertaken in the Gulf of Mexico and the North Sea by nonmembers of OPEC. b. Crude oil is a product that is differentiated by sulfur content: it costs...
Perhaps the most famous example of oligopolistic collusion is the Organization of Petroleum Exporting Countries (OPEC)....
Perhaps the most famous example of oligopolistic collusion is the Organization of Petroleum Exporting Countries (OPEC). During the 1970s, this cartel, which controlled much of the world supply of oil at the time, was able to control output and significantly raise world oil prices. However, since that time, OPEC has been largely unsuccessful in controlling the supply of oil. Would it be possible for United States oil companies to form a cartel to attempt to raise United States oil revenues?...
ORGANISATION OF PETROLEUM EXPORTING COUNTRIES- OPEC ( MAJOR SUPPLIERS) VERSUS ORGANISATION FOR ECONOMIC COOPERATION AND DEVELOPMENT-...
ORGANISATION OF PETROLEUM EXPORTING COUNTRIES- OPEC ( MAJOR SUPPLIERS) VERSUS ORGANISATION FOR ECONOMIC COOPERATION AND DEVELOPMENT- OECD ( MAJOR BUYERS) In the short run, both the supply and demand for crude petroleum oil are relatively inelastic. Supply is inelastic because the quantity of known crude petroleum oil reserves and the capacity for oil extraction cannot be changed quickly, as price fluctuates, couple with the indiscipline of some OPEC member countries in dire need for money for development, often exceed their...
Which of the following will promote a country's exporting activities? Question options: all of them makes...
Which of the following will promote a country's exporting activities? Question options: all of them makes its currency value weaker provides subsidies to domestic business to export increases more free trade partner countries
Example of why european countries make international barriers for indonesia for palm oil product?
Example of why european countries make international barriers for indonesia for palm oil product?
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT
Active Questions
  • Complete the java program. /* Note: Do not add any additional methods, attributes. Do not modify...
    asked 7 minutes ago
  • Find a commercial, product, or advertisement and fill in the conditioning procedure. Unconditioned Stimulus → Unconditioned...
    asked 8 minutes ago
  • In a conversation with someone who you feel may have faced discrimination. Examples include someone with...
    asked 15 minutes ago
  • One measure of the meat quality of pigs is backfat thickness. Suppose two researchers, Jones and...
    asked 27 minutes ago
  • Polychlorinated biphenyls (PCBs), used in the manufacture of large electrical transformers and capacitors, are extremely hazardous...
    asked 28 minutes ago
  • 3. (10 marks) Describe a recursive algorithm for finding the maximum element in a array A...
    asked 38 minutes ago
  • Three identical very small 50-kg masses are held at the corners of an equilateral triangle, 0,30m...
    asked 54 minutes ago
  • C programming 1. Create a file function.c that contains a function called printNumbers() that prints the...
    asked 1 hour ago
  • You visit a local Starbucks to buy a Mocha Frappuccino. The barista explains that this blended...
    asked 1 hour ago
  • Two designs for a prosthetic arm are being considered for further development by the company CompMethods215....
    asked 1 hour ago
  • Merge two ordered singly linked lists of integers into one ordered list in C++
    asked 1 hour ago
  • Q 14 Question 14 Consider the following sample of 11 length-of-stay values (measured in days): 1,...
    asked 1 hour ago