The world oil market, past and future
AbstractOil price behavior has changed dramatically in the last twenty years. These changes can be explained rather simply in terms of the delayed responses of supply and demand to prices, and in terms of changes in the rate of discovery of reserves. This analysis can be used to forecast possible future developments.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 8079.
Date of creation: 1984
Date of revision:
Publication status: Published in The Columbia Journal of World Business no. 7.XIX(1984): pp. 47-55
oil; crude oil; oil market; prices; supply and demand; monopsony; OPEC; expectations; imports; exports; trade; Middle Eastern politics;
Find related papers by JEL classification:
- Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply
- Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy
- N7 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services
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