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Question 2 (50 Marks) (Word limit: 750 words) For many years, OPEC had a power over oil pricing and setting restrictions on the oil market.

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Question 2 (50 Marks) (Word limit: 750 words) For many years, OPEC had a power over oil pricing and setting restrictions on the oil market. Critically discuss to which extent OPEC power over the oil market diminished over the years. B325 TMA - Fall 2020 - AK/LY Page 3

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