1. Oil Case Study

2. Watch and Read the case study material
History of OPEC
Saudi Collusion on prices
Opec Members
Oil Price War
Why are gas prices so high
Extension: Find your own research.

3. Use these in your answers….
Keyword
Definition
Oligopoly
Cartel
Collusion
Interdependence
Price War
Niche
CONNECTIVES

4. CONNECTIVES for Analysis CONNECTIVES for Application
CONTRASTING
Although… Except…
Moreover… If…
However… Yet…
Apart from… Unless…
Despite… As long as…
COMPARING
Equally…
As with…
Like…
In the same way…
Similarly…
Even so…
Likewise…
QUALIFYING
Despite… Yet…
As long as… Unless…
Apart from… If…
Moreover… Except…
However… Although…
CAUSE & EFFECT
Consequently… Due to…
As a result… Therefore..
Because of… Because…
ADDING
In addition… And…
Too… Also…
Additionally… As well as…
Furthermore…
CONNECTIVES for Analysis
CONNECTIVES for Application
CONNECTIVES for Evaluation
CONCLUDING
Firstly… After…
Secondly… Before…
Overall… I believe…
Finally… I think …
In conclusion… it depends…
To conclude… short term…
Meanwhile… Long term…
EMPHASISING
Most importantly…
Significantly…
Notably…
Especially…
Above all…
In particular…
Indeed…
ILLUSTRATING
For instance… Such as…
In the case of… So…
For example…
As revealed by…
As illustrated by…

6. Answer the questions. Define an oligopoly (2m)
Explain whether the oil market is an oligopoly (3m)
To what extent is the oil market good for consumers. (6m)