5. If the current price of oil is $48 per barrel, the quantity of oil demanded is $____million barrels, the quantity supplied is $_____million barrels, and the quantity sold is $____million barrels. There is excess (demand/supply)____in the market, and the price is expected to (rise/fall)_____

Price ($/barrel) 60 54 48 S 40 32 D 80 88 96 104 Quantity (million barrels)