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Strategic Interactions and Price Dynamics in the Global Oil Market

Alonso Alvarez, Irma - 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...

Persistent link: https://www.econbiz.de/10012842744

Current Issues on the Price of Oil : Decline, Forecasting, Volatility and Uncertainty

Bashiri Behmiri, Niaz - 2018

The 2015 workshop on “Recent evolutions of oil and commodity prices”, organized by FEEM, focused on the sharp decline in the oil price in 2014. High crude oil production and slower demand growth explain a large fraction of the current low level of prices, but a complex set of factors is...

Persistent link: https://www.econbiz.de/10012911766

Will Oil Prices Decline Over the Long Run?

Kaufmann, Robert - 2008

At present, oil markets appear to be behaving in a fashion similar to that in the late 1970s and early 1980s when oil prices rose sharply over an extended period. Furthermore, like at that time, analysts are split on whether such increases will persist or reverse, and if so by how much. The...

Persistent link: https://www.econbiz.de/10012771660

Understanding the Estimation of Oil Demand and Oil Supply Elasticities

Kilian, Lutz - 2020

This paper examines the advantages and drawbacks of alternative methods of estimating oil supply and oil demand elasticities and of incorporating this information into structural VAR models. I not only summarize the state of the literature, but also draw attention to a number of econometric...

Persistent link: https://www.econbiz.de/10012822493

Facts and Fiction in Oil Market Modeling

Kilian, Lutz - 2019

Baumeister and Hamilton (2019a) assert that every critique of their work on oil markets by Kilian and Zhou (2019a) is without merit. In addition, they make the case that key aspects of the economic and econometric analysis in the widely used oil market model of Kilian and Murphy (2014) and its...

Persistent link: https://www.econbiz.de/10012860298

Interpreting the Oil Risk Premium : Do Oil Price Shocks Matter?

Valenti, Daniele - 2018

This paper provides an analysis of the link between the global market for crude oil and oil futures risk premium at the aggregate level. It offers empirical evidence on whether the compensation for risk required by the speculators depends on the type of the structural shock of interest....

Persistent link: https://www.econbiz.de/10012924431

Identifying oil supply news shocks and their effects on the global oil market

Thomas, Arthur; Moussa, Zakaria - 2021

This paper uses a new empirical strategy to identify oil supply news shocks within a Non-Causal VAR model of standard global oil market variables. These shocks explain most of the movements in oil production over a long but finite time horizon. Our findings highlight the prominent role of...

Persistent link: https://www.econbiz.de/10013215283

World Crude Oil Markets : Monetary Policy and the Recent Oil Shock

Krichene, Noureddine - 2014

This paper examines the relationship between monetary policy and oil prices within a world oil demand and supply model … interest rates led to high oil price volatility in 2005. Data shows that world economic growth and price stability require …

Persistent link: https://www.econbiz.de/10012752300

Recent Oil Price Movements : Forces and Policy Issues

Wurzel, Eckhard - 2009

Crude oil prices have trended up since the end of the 1990s, peaking at a historic high in mid-2008 that was followed by a steep price correction with a subsequent rebound. This paper considers major forces behind the evolution of the oil price, using a simple model of supply and demand...

Persistent link: https://www.econbiz.de/10012444667

Long-term development of the global energy sector under the influence of energy policies and technological progress

Makarov, Aleksej Aleksandrovič; Mitrova, Tatiana; … - In: Russian journal of economics 6 (2020) 4, pp. 347-357

The world energy sector is entering a period of transformation, defined by the emergence of a whole range of cost … the development of world energy markets for the period up to 2040 were made using economic and mathematical optimization …. Renewable energy sources (RES) will be able to provide up to 35-50% of electricity production and up to a quarter of the world …

Persistent link: https://www.econbiz.de/10012416145