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backwardation was the norm and investors could benefit from the futures roll.We compare different oil investment vehicles and find … that investment vehicles that purchase direct stakes in oil companies avoid the contango drag, but do not track oil well … and assume other unwanted risks for oil investors. The greatest exposure to oil is achieved by investment vehicles that …
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This paper investigates the global macroeconomic consequences of country-specific oil-supply shocks. Our contribution is both theoretical and empirical. On the theoretical side, we develop a model for the global oil market and integrate this within a compact quarterly model of the global economy...
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fundamentals is causing the world disquiet and worry bordering on panic. Oil-importing nations have long treated Saudi Arabia as an …
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