Petroleum 'glut' in international trade means______

  • A Higher prices for the Consumption of petroleum.
  • B An Oversupply of petroleum.
  • C A fall in in petroleum production.
  • D A higher petroleum price offered by the buyer.
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The correct answer is B. An Oversupply of petroleum.

 A petroleum glut occurs when there is more petroleum being supplied than demanded in the international market.

This can happen when there is an increase in production or a decrease in demand for petroleum.

When there is a petroleum glut, the price of petroleum typically falls because there is too much supply for the current demand.

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