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Answer all questions from this section (25 marks in total). The article below, written on 11 January 2018, reports on the four-year high of oil prices. Oil prices rise to hit four-year high of $70 a barrel Brent Crude (a category of oil) climbed after members of Opec, the cartel of 14 oil-producing nations that accounts for 40% of the world's output, said it would continue to limit supplies. Some consumer groups have warned that rising oil prices could lead to higher forecourt costs for motorists. However, other consumer groups said that drivers would benefit if supermarkets resumed their petrol price war. Suhail al-Mazroui, the Opec president, said it was committed to limiting output until the end of the year. Last year Opec and other nations, including Russia, said they would extend a deal to cut production to help support oil prices which were below $50 a barrel when the agreement was struck in 2016. Thursday's rise was also bolstered by a surprise fall in US oil stockpiles. The US Energy Information Administration said oil inventories fell by almost five million barrels to 419.5 million barrels in the week to 5 January. US production also fell by 290,000 barrels per day to 9.5 million. Source: Adapted from http://www.bbc.co.ukews/business-42653988 Due to copyright reasons we are unable to reproduce the accompanying figure in this commentary Please go to http://www.bbc.co.ukews/business-42653988 to view it. ctivate Windows Using your own knowledge and the information above, answer the following questions: Go to Settings to activate Windows. Type here to search 0 6 1 19CALF ENG 1:27 PM 12/1/2022 Brent crude reaching $80 US dollars per barrel $90 $80.13 $60 $30 $0 2018 2019 2020 2021 Source: Bloomberg, 28 September 2021, 12:35 GMT BBC Question 6 Comment on the changes in the price per barrel of Brent crude over the period January 2017 to January 2018 shown in Figure 1. (5 marks) Question 7 According to the article, why have oil prices reached a four-year high? Explain your answer, making sure you include an appropriate diagram. (10 marks) Question 8 According to the article, will motorists benefit or suffer from the recent changes in oil prices? Explain your answer. (9 marks) Question 9 How might producers of renewable sources of energy, such as wind and solar energy, be expected to respond to the news that oil prices have reached a four-year high? (8 marks)