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Oil supply — Edexcel GCSE Geography B Definition | GradeGen

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Geography
Key terms
Oil supply

GCSE Geography · key term

Oil supply

Definition

The quantity of oil available for sale over a given period.

Used by Edexcel

How each exam board covers it

Edexcel GCSE Geography B · 1GB0

Paper 3

Following the Iranian Revolution in 1979, oil supply decreased and prices rose. This illustrates how political upheaval in a producing country can affect buyers elsewhere.
Revise: Factors Affecting Oil Supply, Prices and Trends

Edexcel Geography B past papers

Related key terms

Diplomatic relations
Economic boom
Oil demand
Oil production
Oversupply

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