You have to write an Micro Econ paper. I will upload instructions as a. pdf so please read it carefully and write accordingly.
I already have 2 articles links which I have provided to you and you have to use micro economics concepts to explain that.
The topics you could cover in this are demand supply, shifting factors of demand, prove elasticity of supply of oil, income elasticity of oil, substitutes/compliments and market structures.
Another article to supplement our topic:
topics you can include from this article for our paper could be is “compliments ” For eg how the drop in oil prices have affected the demand for cars.
Also add game theory as well because the interaction between the OPEC is a strategic decision where they decide what quantity to produce based on what they think the other will produce and the prices charged.
I have told you all the plan of how you can write this paper. Its now you duty make graphs accordingly and write good micro Econ paper. Let me Know if there is any confusion. Read the attached pdf for Instructions on how you will write this paper. I have just told you the idea.