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Discuss the relationship between oil prices and supply and demand. Why is there currently an oversupply of oil on the market and what effect has

Discuss the relationship between oil prices and supply and demand. Why is there currently an oversupply of oil on the market and what effect has the oversupply had on prices? Explain how the recent drop in oil prices contributed to the controversy between Russia and Saudi Arabia. What does your response suggest about the outlook for the oil industry going forward?

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