Different type of market in oil & gas industry Essay

Different type of market in oil & gas industry - Essay Example The oil price dynamics in the global market are more likely to influence by a number of key factors ranging from balance amongst supply and demand; geopolitical and macroeconomic conditions; to the transitions in exchange rates of the dominant economies across the world. In this regard, changing conditions of the global financial markets has also been witnessed to have major influence on the oil and gas industry (Levy & Kolk, 2002). Although the continuous technological breakthrough has made the international producers and suppliers to effectively deal with the issues, but the oil and gas industry underpins major concerns for the nations in order to eliminate the prevailing challenges. This is owing to the fact that the industry is centrally driven by the wave of changing supply and demand along with the unabated financial challenges of the global nations (Sadorsky, 2001). The study emphasises on the key challenges and increasing numbers of threats from the different market challenges. In this context, the study aims to conduct a critical evaluation of the current oil and gas industry of China to determine whether the industry is monopolised by China National Petroleum Corporation (CNPC), which is one of the leading and dominant oil and gas corporations in the nation. In this essay, the discussion mainly focuses on developing relevant arguments or positions in relation to the literatures used in the previously developed articles. In order to claim appropriateness as well as validity of the research works, this essay tends to include a real example by elucidating the dominant performance of CNPC in the current oil and gas industry of China. In order to explore the market trends of the current oil and gas industry in China, the discussion critically addresses the present trend in microeconomic factors including the fashion of demand and supply in China. In addition to determine the current performance of CNPC, the discussion also incorporates a clear