Oil consumption is increasingly concentrated in transport and relatively limited fluctuations in transport demand can have increasingly significant effects on oil prices. This Round Table assesses the policy instruments available to address oil security and climate change and examines their...

This article proposes a two-stage oligopoly model for the crude oil market. In a game of several Stackelberg leaders, market power increases endogenously as the spare capacity of the competitive fringe goes down. This effect is due to the specific cost function characteristics of extractive...