In order to reduce production costs,Jeffrey's Oil Drilling decided to buy out a refinery and several retailers to sell its oil to the end users.This strategy is an example of __________ strategy.

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The strategy followed by Jeffrey's Oil Drilling to buy out a refinery and retailers to sell its oil to end users is an example of vertical integration. Vertical integration involves the acquisition of companies at different levels of the same value chain, and this strategy helps in reducing production costs, improving efficiency, and enhancing control over the supply chain.

In Order to Reduce Production Costs,Jeffrey's Oil Drilling Decided to Buy