Who Makes The Oil Price
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Who Makes The Oil Price
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Author : Steve Roberts
language : en
Publisher:
Release Date : 1984
Who Makes The Oil Price written by Steve Roberts and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1984 with Business & Economics categories.
Crude Volatility
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Author : Robert McNally
language : en
Publisher: Columbia University Press
Release Date : 2017-01-17
Crude Volatility written by Robert McNally and has been published by Columbia University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-01-17 with Business & Economics categories.
As OPEC has loosened its grip over the past ten years, the oil market has been rocked by wild price swings, the likes of which haven't been seen for eight decades. Crafting an engrossing journey from the gushing Pennsylvania oil fields of the 1860s to today's fraught and fractious Middle East, Crude Volatility explains how past periods of stability and volatility in oil prices help us understand the new boom-bust era. Oil's notorious volatility has always been considered a scourge afflicting not only the oil industry but also the broader economy and geopolitical landscape; Robert McNally makes sense of how oil became so central to our world and why it is subject to such extreme price fluctuations. Tracing a history marked by conflict, intrigue, and extreme uncertainty, McNally shows how—even from the oil industry's first years—wild and harmful price volatility prompted industry leaders and officials to undertake extraordinary efforts to stabilize oil prices by controlling production. Herculean market interventions—first, by Rockefeller's Standard Oil, then, by U.S. state regulators in partnership with major international oil companies, and, finally, by OPEC—succeeded to varying degrees in taming the beast. McNally, a veteran oil market and policy expert, explains the consequences of the ebbing of OPEC's power, debunking myths and offering recommendations—including mistakes to avoid—as we confront the unwelcome return of boom and bust oil prices.
Peaks Spikes And Barrels
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Author : Ms.Malika Pant
language : en
Publisher: International Monetary Fund
Release Date : 2010-08-01
Peaks Spikes And Barrels written by Ms.Malika Pant and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-08-01 with Business & Economics categories.
Global oil markets were roiled by sharp price swings in 2008, and economists are still divided over the reasons for the unusual volatility. Those emphasizing fundamentals point to inelastic supply and demand curves, others view the phenomenon mostly as a result of financial investors flocking into commodity markets. This paper attempts to infer the strength of these competing hypotheses, using a simultaneous equation model that enables us to undertake a separate analysis of supply and demand factors. The model broadly captures both the surge and subsequent fall in prices, with a particularly strong impact of demand factors. The model captures a strong effect of a measure for global liquidity but does not find support for a speculative motive.
Oil Price Volatility And The Role Of Speculation
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Author : Samya Beidas-Strom
language : en
Publisher: International Monetary Fund
Release Date : 2014-12-12
Oil Price Volatility And The Role Of Speculation written by Samya Beidas-Strom and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-12-12 with Business & Economics categories.
How much does speculation contribute to oil price volatility? We revisit this contentious question by estimating a sign-restricted structural vector autoregression (SVAR). First, using a simple storage model, we show that revisions to expectations regarding oil market fundamentals and the effect of mispricing in oil derivative markets can be observationally equivalent in a SVAR model of the world oil market à la Kilian and Murphy (2013), since both imply a positive co-movement of oil prices and inventories. Second, we impose additional restrictions on the set of admissible models embodying the assumption that the impact from noise trading shocks in oil derivative markets is temporary. Our additional restrictions effectively put a bound on the contribution of speculation to short-term oil price volatility (lying between 3 and 22 percent). This estimated short-run impact is smaller than that of flow demand shocks but possibly larger than that of flow supply shocks.
Oil Price Developments Drivers Economic Consequences And Policy Responses
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Author : Nadine Pahl
language : en
Publisher: GRIN Verlag
Release Date : 2009-03-27
Oil Price Developments Drivers Economic Consequences And Policy Responses written by Nadine Pahl and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-03-27 with Political Science categories.
Research Paper (undergraduate) from the year 2007 in the subject Business economics - Economic Policy, grade: 1,0, University of Applied Sciences Berlin, course: General Economics, language: English, abstract: Oil prices are an important determinant of global economic performance. Crude Oil prices ranged between $2.50/bbl and $3.00/bbl from 1948 through the end of the 1960s. As of this day, the price for crude oil is $89.82/bbl. In general, spikes in oil prices are not unusual and are, to some extent, symptomatic of a gradual upward trend in daily oil price volatility. Volatile prices arise from supply and demand that are both highly inelastic in the short run, with the result that even small shocks can have large effects on price. But especially within the last few years, the oil price has continuously increased sharply – and to some extent unexpected. This recent sharp increase in the oil price prompts several questions: Why have oil prices risen? What is the impact on the global economy and on individual countries? How do oil importing countries cope with the higher prices? What are appropriate policy responses to stabilise the economy in face of high oil prices? And last but not least, what role does the Organisation of Petroleum Exporting Countries really play? To begin with, there is no doubt that the recent increase in oil price is mainly demand driven, combined with historically low excess capacity and heightened concerns about supply disruptions. And even without macroeconomic knowledge, everyone is aware that higher oil prices affect the economy as a whole and all its market participants. In the following, this paper analyses in detail the current main oil price drivers, their economic consequences and the possible policy responses - always framed by the volatility and uncertainty that characterise the oil market.
The Price Of Oil
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Author : Roberto F. Aguilera
language : en
Publisher: Cambridge University Press
Release Date : 2016
The Price Of Oil written by Roberto F. Aguilera and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with Business & Economics categories.
This book explains why oil prices rose so spectacularly in the past and examines how they will be suppressed in the future.
The Oil Price Revolution
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Author : Steven A. Schneider
language : en
Publisher:
Release Date : 1983
The Oil Price Revolution written by Steven A. Schneider and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1983 with Business & Economics categories.
Sensitivity Analysis Of World Oil Prices Analysis Report Ar
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Author :
language : en
Publisher:
Release Date : 1979
Sensitivity Analysis Of World Oil Prices Analysis Report Ar written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1979 with categories.
An analysis of the impact of the political disruption in Iran on the world oil market is presented. During the first quarter of 1979, this disruption caused a loss of approximately 5 million barrels per day (MMBD) of oil production available for export from Iran to the rest of the world. This loss of production and the political climate in Iran have caused much speculation concerning future Iranian oil production and total Organization of Petroleum Exporting Countries (OPEC) oil production in the nearterm and midterm. The analysis describes these issues in terms of two critical factors: the world oil price and the level of OPEC oil production in the nearterm and midterm. A detailed comparison of the Central Intelligence Agency (CIA) and Energy Information Agency (EIA) forecasting models of world oil prices is presented. This comparison consists of examining reasons for differences in the price forecasts of the CIA model by using CIA assumptions within the EIA model. The CIA and EIA model structures and major parameters are also compared. It is important to note that this analysis is not all encompassing. In particular, the analysis does not provide data on crude oil prices in the spot market, but does provide information on the average crude oil price; and does not permit rationing of oil, since the market is forced to clear only through changes in oil prices. Throughout this paper, world oil prices are defined in terms of real 1978 dollars per barrel of crude oil delivered to the East Coast of the United States net of any import fees.
Global Implications Of Lower Oil Prices
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Author : Mr.Aasim M. Husain
language : en
Publisher: International Monetary Fund
Release Date : 2015-07-14
Global Implications Of Lower Oil Prices written by Mr.Aasim M. Husain and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-07-14 with Business & Economics categories.
The sharp drop in oil prices is one of the most important global economic developments over the past year. The SDN finds that (i) supply factors have played a somewhat larger role than demand factors in driving the oil price drop, (ii) a substantial part of the price decline is expected to persist into the medium term, although there is large uncertainty, (iii) lower oil prices will support global growth, (iv) the sharp oil price drop could still trigger financial strains, and (v) policy responses should depend on the terms-of-trade impact, fiscal and external vulnerabilities, and domestic cyclical position.
Oil Prices And The Future Of Opec
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Author : Theodore H. Moran
language : en
Publisher:
Release Date : 1978
Oil Prices And The Future Of Opec written by Theodore H. Moran and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1978 with Business & Economics categories.