The global financial crisis of 2007-2009 caused major economic disturbances in the oil market. In this paper, we consider five variables that describe the microeconomics of the supply of and demand for oil, and evaluate their importance before, during and after the global financial crisis. We...

From the early 1970s to the Global Financial Crisis of 2007-09, U.S. crude oil production followed a declining trend. After the Global Financial Crisis, U.S. crude oil production increased rapidly. This paper addresses the important question "what economic factors have driven U.S. crude oil...

The global financial crisis of 2007-2009 caused major economic disturbances in the oil market. In this paper we consider five variables describing the microeconomics of supply of, and demand for oil and evaluate their importance before, during and after the global financial crisis. We consider...

During the Global Financial Crisis of 2007-2009, the price of crude oil dropped markedly from about $140 per barrel in June 2008 to about $40 in early 2009. As Quantitative Easing allowed the U.S. economy to stabilize and return to slow growth, oil prices increased and averaged about $100 during...