Kindly help in solving the problem attached.

Clipboard SECURITY WARNING Automatic update of links has been disabled Enable Content B2 x fx Future Supply and Demand for Crude Oil G H K M N O A B D 1 2 Future Supply and Demand for Crude oil To complete this project step, address the following: Daily US demand for Daily US supply of crude; 1. Based on the information provided from the International Energy Agency (IEA) in the table on the left, examine the supply and Price per barrel crude oil (in millions of oil (in millions of demand graph in the space below. This information is helpful for our client ExxonMobil to know how much oil to produce. The (2208) barrels per day) barrels per day) graph shows crude oil prices per barrel and the supply and demand for the number of barrels in the united States per day. After 3 you have examined the graph below, identify the price and quantity and price at which equilibrium exists. This information is important for the client to determine the quantity of oil to produce for profit maximization. 4 $25.00 1.0 0.5 2. The global demand for oil changes with the changes in global economies. As economic activity increases, the global demand 15 $30.00 0.9 0.6 for oil increases. For the past several years, the global demand for oil has increased (https://www.iea.org/oilmarketreport/omrpublic/). As 16 $35.00 0.8 the global demand changes, we can observe this change graphically. What changes are expected in the short-term? To answer this question, 0.7 please see https://www.eia.gov/outlooks/steo/. Support your statements with research and references. 7 $40.00 0.7 0.8 3. What are potential supply and demand risks in the global oil market? Support your statements with research and references. 18 $45.00 0.6 0.9 4. Is the global oil and gas market in a monopoly, oligopoly, or competitive economic model? Why? Support your statements with 9 $50.00 research and references. 0.5 1.0 10 $55.00 0.4 1.1 5. To what extent do you think that the current Covid-19 pandemic crisis will impact the global oil market in the long run and more 11 specifically are there implication for Exxon Oil? Data from https://www.iea.org 12 13 14 Show your work below. 15 16 Question 1: 17 18 Oil Supply and Demand 19 70 20 60 21 50 22 40 23 30 Supply and Demand Graph Profit Maximization Select destination and press ENTER or choose Pas +