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The influence of OPEC+ on oil prices : a quantitative assessment
Quint, Dominic; Venditti, Fabrizio - 2020
Between January 2017 and March 2020 a coalition of oil producers led by OPEC and Russia (known as OPEC+) cut oil … coalition, as members did not agree on keeping the oil market tight in the face of a large negative demand shock. Yet, was OPEC …+ actually effective in sustaining the price of oil? Between 2017 and early 2020 when the OPEC+ strategy was in place, oil …
Persistent link: https://www.econbiz.de/10012271582
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Strategic interactions and price dynamics in the global oil market
Alonso Alvarez, Irma; Di Nino, Virginia; Venditti, Fabrizio - 2020
In a simplified theoretical framework we model the strategic interactions between OPEC and non-OPEC producers and the … implications for the global oil market. Depending on market conditions, OPEC may find it optimal to act either as a monopolist on … the residual demand curve, to move supply in-tandem with non-OPEC, or to offset changes in non-OPEC supply. We evaluate …
Persistent link: https://www.econbiz.de/10012154179
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Assessing the factors behind oil price changes
Dées, Stéphane; Gasteuil, Audrey; Kaufmann, Robert Kurt; … - 2008
expanding a model for crude oil prices to include refinery utilization rates, a non-linear effect of OPEC capacity utilization …
Persistent link: https://www.econbiz.de/10003636096
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Much ado about nothing? : the shale oil revolution and the global supply curve
Foroni, Claudia; Stracca, Livio - 2019
We focus on the implications of the shale oil boom for the global supply of oil. We begin with a stylized model with two producers, one facing low production costs and one higher production costs but potentially lower adjustment costs, competing á la Stackelberg. We find that the supply...
Persistent link: https://www.econbiz.de/10012059007
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Do China and oil exporters influence major currency configurations?
Fratzscher, Marcel; Mehl, Arnaud - 2008
This paper analyses the impact of the shift away from a US dollar focus of systemically important emerging market economies (EMEs) on configurations between the US dollar, the euro and the yen. Given the difficulty that fixed or managed US dollar exchange rate regimes remain pervasive and...
Persistent link: https://www.econbiz.de/10003825947
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Saudi Aramco and the oil market
Nakov, Anton; Nuño, Galo - 2011
We present a general equilibrium model of the global oil market, in which the oil price, oil production, and consumption, are jointly determined as outcomes of the optimizing decisions of oil importers and oil exporters. On the supply side the oil market is modelled as a dominant firm - Saudi...
Persistent link: https://www.econbiz.de/10009159995
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Oil exporters: in search of an external anchor
Habib, Maurizio Michael - 2008
This paper discusses the choice of an optimal external anchor for oil exporting economies, using optimum currency area criteria and simulations of a simple model of a small open economy pegging to a basket of two currencies. Oil exporting countries .in particular those of the Gulf Cooperation...
Persistent link: https://www.econbiz.de/10003803309
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Petrodollars and imports of oil exporting countries
Beck, Roland; Kamps, Annette - 2009
This paper investigates the empirical determinants of import demand in oil exporting countries. Using a new dataset including a large cross section of oil exporting countries, we show with a panel cointegration analysis that import demand in these countries depends positively on domestic demand...
Persistent link: https://www.econbiz.de/10003831790
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Macroeconomic shocks in an oil market var
Melolinna, Marko - 2012
Persistent link: https://www.econbiz.de/10009765216
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The euro bloc, the dollar bloc and the yen bloc : how much monetary policy independence can exchange rate flexibility buy in an interdependent world?
Fratzscher, Marcel (contributor) - 2002
Persistent link: https://www.econbiz.de/10001702791