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You've rightly pointed out the significant role of major oil producers in determining market dynamics and the impact of price elasticity on the global economy.
You've rightly pointed out the significant role of major oil producers in determining market dynamics and the impact of price elasticity on the global economy. It's interesting to consider how the entry of smaller producers focusing on profit over volume might further alter this landscape. Their presence could introduce more competition and potentially lead to more stabilized prices. However, do you think the increasing involvement of these smaller players might also lead to greater market volatility, as their production decisions could be more reactive to short-term price fluctuations
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