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Crude Oil Price Determinants

  • Möbert, Jochen
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    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.

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    File URL: http://www.download.tu-darmstadt.de/wi/vwl/ddpie/ddpie_186.pdf
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    Paper provided by Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute of Economics (VWL) in its series Darmstadt Discussion Papers in Economics with number 35713.

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    Date of creation: Aug 2007
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    Publication status: Published in Darmstadt Discussion Papers in Economics . 186 (2007-08)
    Handle: RePEc:dar:ddpeco:35713
    Note: for complete metadata visit http://tubiblio.ulb.tu-darmstadt.de/35713/
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