Baumeister, Christiane; Kilian, Lutz - 2016 - First version: January 21, 2015. This version: September 13, 2015
positive oil supply shocks in the second half of 2014. Others have suggested that a major shock to oil price expectations … expected oil production that occurred prior to July 2014. The remaining oil price decline is accounted for by a shock to oil … price expectations in July 2014 that lowered the demand for oil inventories and a shock to the demand for oil associated …