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Crude Oil Price Determinants

Möbert, Jochen (2007):
Crude Oil Price Determinants.
Darmstadt, In: Darmstadt Discussion Papers in Economics, [Online-Edition: http://econstor.eu/bitstream/10419/32075/1/541680129.PDF],
[Report]

Abstract

Based on monthly observations, I specify an econometric model capturing the driving forces behind the crude oil price series in recent years. A large set of covariates, such as supply and demand variables as well as futures market variables, is used to test the impact on the crude oil price. Current price movements are a result of scarce refining capacity and speculators betting on higher prices. The results also question OPEC’s market power.

Item Type: Report
Erschienen: 2007
Creators: Möbert, Jochen
Title: Crude Oil Price Determinants
Language: English
Abstract:

Based on monthly observations, I specify an econometric model capturing the driving forces behind the crude oil price series in recent years. A large set of covariates, such as supply and demand variables as well as futures market variables, is used to test the impact on the crude oil price. Current price movements are a result of scarce refining capacity and speculators betting on higher prices. The results also question OPEC’s market power.

Series Name: Darmstadt Discussion Papers in Economics
Volume: 186
Place of Publication: Darmstadt
Uncontrolled Keywords: Crude oil market, Econometric modelling
Divisions: 01 Department of Law and Economics
01 Department of Law and Economics > Volkswirtschaftliche Fachgebiete
Date Deposited: 26 Aug 2009 13:23
Official URL: http://econstor.eu/bitstream/10419/32075/1/541680129.PDF
Additional Information:

JEL - Classification : C51, Q41

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