Oil producers expect that oil prices next year will be lower than oil prices this year.As a result,oil producers are most likely to

Question

Quizplus · Accepted Answer

If oil producers expect lower prices next year, they are likely to sell more oil this year to take advantage of the higher current prices, which would shift the present supply curve of oil rightward. This is because increasing the amount of oil placed on the market increases the supply, which is represented by a rightward shift in the supply curve.

Oil Producers Expect That Oil Prices Next Year Will Be