I need help with a Economics question. All explanations and answers will be used to help me learn.
In Chapter 7 of your International Economics textbook(*), Carbaugh (2019) provided a historical account of OPEC and its power in controlling the global petroleum supply, which creates efficient balance for the prices of the global petroleum market. In a critical essay, investigate the dynamics OPEC has faced in the global market in the last ten years. You may select the kingdom of Saudi Arabia as an effective member with distinguished efforts in this organzation, and analyze the effects from the perspective of that jurisdiction. Support your findings with additional academic references.
Textbook: Carbaugh, R. J. (2019). International economics (17th ed.). Boston, MA: Cengage. ISBN: 9781337558938
Your well-written paper should meet the following requirements:
- At least 5 pages in length, which does not include the title page and reference pages.
- Follow (APA) style.
- 3 to 4 academic references are enough.