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Energy And Fuels Crude Oil

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  • Mariana Papatulica

Abstract

Mixed and contradictory signals have not represented, nor in 2012, something new on crude oil market. Since the financial crisis of 2008-2009, analysts have tried to “decrypt†the contradictions between price decline risks associated with fragile economies and those of growth in prices caused by geopolitical crises and chronic disruptions in supply. From geopolitical point of view, the resilience of crude oil market to withstand the crisis rarely was so undergone than in the past three years, since the beginning of the so-called "Arab spring"; civil unrest, terrorist attacks, natural disasters, disruptions in supplies of crude oil, commercial embargoes. But the oil market has proved to be so accustomed to such geopolitical unrest, as some said that it "would have inscribed in its genetic code, the resilience to political crises." The fact that the market was able to manage recent crises without big price increases or shortages of supply was largely due to the “revolution†of shale oil supply in North America, but also to cyclical factors (economic recession).

Suggested Citation

  • Mariana Papatulica, 2013. "Energy And Fuels Crude Oil," Conjunctura economiei mondiale / World Economic Studies, Institute for World Economy, Romanian Academy.
    • Handle: RePEc:iem:conjun:y:2013:id:2822000009562131
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