Crude oil price determinants

Based on monthly observations, I specify an econometric model capturing the driving forces behind the crude oil price series in recent years. A large set of covariates, such as supply and demand variables as well as futures market variables, is used to test the impact on the crude oil price. Current price movements are a result of scarce refining capacity and speculators betting on higher prices. The results also question OPEC's market power.

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Year of publication:	2007
Authors:	Möbert, Jochen
Publisher:	Darmstadt : Technische Universität Darmstadt, Department of Law and Economics
Subject:	Erdölpreis \| Ökonometrisches Modell \| Varianzanalyse \| Schätzung \| Mineralölmarkt \| Welt \| Crude oil market \| Econometric modelling

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Series:	Darmstadt Discussion Papers in Economics ; 186
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	541680129 [GVK] hdl:10419/32075 [Handle] RePEc:zbw:darddp:dar_35713 [RePEc]
Classification:	C51 - Model Construction and Estimation ; Q41 - Demand and Supply
Source:	EconStor

Persistent link: https://www.econbiz.de/10010266879