The Response of Oil Contracts to Extreme Price Movoments.

This study examines the response of oil contracts to extreme price movements. The chosen contract form is a Production-Sharing Agreement (PSA) which is the oil industry's equivalent of sharecropping and one of the most commonly used contractual agreements. We show that only the two significant price increases in the 1970s and only the price falls in the early 1980s and the early 1990s triggered a response in the terms offered by PSAs.

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Year of publication:	2000
Authors:	Bindemann, K.
Institutions:	Department of Economics, Oxford University
Subject:	PRICES \| CONTRACTS \| PETROLEUM

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Series:	Economics Series Working Papers.
Type of publication:	Book / Working Paper
Notes:	13 pages
Classification:	L14 - Transactional Relationships; Contracts and Reputation; Networks ; L71 - Mining, Extraction, and Refining: Hydrocarbon Fuels ; Q4 - Energy
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005047872