Explain to using the PESTLE framework to explain Oil industry that:-Identify external trends that may have an impact on the chosen industry-Assess whether the identified impact will be positive or negative-Determine the time frame that the impact will be relevant (short term, medium-term or long term)please don't comment like missing data, graph or other material, incomplete question and so on. this is only thing i got from my Prof and i have no idea where to start and what to do.

PESTLE (PESTEL) External Factors (No Direct Control) - Political Environment/Government . How does current / future government policy affect the industry - Economics . Exchange rates, economic growth/stability/inflation/unemployment/labor availability in your market - Social . Demographics, Psychographics, Culture, Sociological - Technology . stability/dynamism of core/peripheral technology - Environment . How does the natural environment affect the industry or your business - Legal . Regulatory/Legal