IDEAS home Printed from https://ideas.repec.org/a/iem/conjun/y2015id2822000009592019.html
   My bibliography  Save this article

The Sharp Fall of International Crude Oil Prices from 2014. Causes, Impact, Prospects

Author

Listed:
  • Mariana Papatulica

Abstract

The international crude oil market has experienced, since June 2014, a sharp decline in oil prices, which caused a sudden reversal for the state of an industry that seems to be the victim of its own previous success. The above mentioned evolution has been perceived as a collapse of the “business model†practiced in the last decade (2005-2014) by major oil companies that maximized oil production, based on the support of constant high oil prices. After being a major incentive for the accelerated development of shale oil and gas by hydraulic fracking in North America, and of other expensive energy projects too, they gradually favored the accumulation of an oil oversupply on the international market, which associated with a demand drop in Western economies, due to economic stagnation and increase of energy efficiency, triggered an unexpected and accelerated decline in crude oil prices, starting from the second half of 2014.

Suggested Citation

  • Mariana Papatulica, 2015. "The Sharp Fall of International Crude Oil Prices from 2014. Causes, Impact, Prospects," Conjunctura economiei mondiale / World Economic Studies, Institute for World Economy, Romanian Academy.
    • Handle: RePEc:iem:conjun:y:2015:id:2822000009592019
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:iem:conjun:y:2015:id:2822000009592019. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ionela Baltatescu (email available below). General contact details of provider: https://edirc.repec.org/data/imacaro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.