Final answer:
The Romanian oil industry is characterized by government ownership and control, which indicates it operates under a command economy system. This type of economy is defined by the central government's regulation and ownership of production means, a legacy from Romania's past that still persists despite ongoing economic reforms.
Step-by-step explanation:
In Romania, the government's control over all oil fields suggests the Romanian oil industry operates within a command economy system.
This is a type of economic system where the production of goods and services, including the extraction and distribution of natural resources, is determined and regulated by a central government. The government typically owns the means of production, such as the oil fields in Romania's case.
Romania has been working through various economic reforms, especially since joining the EU in 2007, transitioning from its outdated industrial infrastructure of the Communist era towards a more integrated European economy.
Despite these changes, the Romanian oil industry remains under government control, which is a characteristic of a command economy, rather than a market or mixed economy where such industries would either be privately owned or subject to less government oversight.