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Which of the following can cause oil glut in the International market?

Economics
JAMB 2016

Which of the following can cause oil glut in the International market?

  • A. Excess demand over supply
  • B. Under- capacity utilization
  • C. Excess supply over demand
  • D. Economic boom
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Correct Answer: Option C
Explanation

Oil glut is a Market situation where the supply of a good or service far exceeds its demand, usually resulting in a substantial fall in its price.

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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