Implications of Recent Organization of Petroleum Exporting Countries (OPEC) Oil Price Increases PDF Download
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Author: Michael L. Telson
Publisher:
ISBN:
Category : Organization of Petroleum Exporting countries
Languages : en
Pages : 140
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Author: Michael L. Telson
Publisher:
ISBN:
Category : Organization of Petroleum Exporting countries
Languages : en
Pages : 140
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Author: États-Unis. Congress. Senate. Committee on Interior and Insular Affairs
Publisher:
ISBN:
Category :
Languages : en
Pages : 139
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Author: Michael L. Telson
Publisher:
ISBN:
Category : Petroleum
Languages : en
Pages : 0
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Author: United States. Congress. Senate. Committee on Interior and Insular Affairs
Publisher:
ISBN:
Category :
Languages : en
Pages : 130
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Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author: Vivian Randhawa
Publisher: GRIN Verlag
ISBN: 3668702942
Category : Business & Economics
Languages : en
Pages : 30
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Seminar paper from the year 2014 in the subject Business economics - Trade and Distribution, grade: 1,7, Hamburg University of Applied Sciences, language: English, abstract: After oil was discovered in the late 19th century, oil prices were primarily determined first by the major petroleum companies and then by the oil-exporting nations, who joined forces in the Organization of Petroleum Exporting Countries (OPEC). In the 1960s, the market-oriented pricing system was adopted and since then oil prices are primarily formed by supply and demand. Oil prices are characterized by permanent price fluctuations. Especially rapid price rises and longer-term fluctuations are at the focus of many scientific work. Because oil is an indispensable resource for the global economy, the question arises after the economic impacts of such price developments. While oil- exporting countries benefit from strong price rises, oil- importing countries, with emerging countries leading the way, are negatively affected. The interplay of these opposite effects and the global economic situation are crucial for the net effect on global economy.
Author: United States. Congress. Senate. Committee on Interior and Insular Affairs
Publisher:
ISBN:
Category : Petroleum products
Languages : en
Pages : 129
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Author: Nadine Pahl
Publisher: GRIN Verlag
ISBN: 3640297687
Category : Political Science
Languages : en
Pages : 78
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Research Paper (undergraduate) from the year 2007 in the subject Business economics - Economic Policy, grade: 1,0, University of Applied Sciences Berlin, course: General Economics, language: English, abstract: Oil prices are an important determinant of global economic performance. Crude Oil prices ranged between $2.50/bbl and $3.00/bbl from 1948 through the end of the 1960s. As of this day, the price for crude oil is $89.82/bbl. In general, spikes in oil prices are not unusual and are, to some extent, symptomatic of a gradual upward trend in daily oil price volatility. Volatile prices arise from supply and demand that are both highly inelastic in the short run, with the result that even small shocks can have large effects on price. But especially within the last few years, the oil price has continuously increased sharply – and to some extent unexpected. This recent sharp increase in the oil price prompts several questions: Why have oil prices risen? What is the impact on the global economy and on individual countries? How do oil importing countries cope with the higher prices? What are appropriate policy responses to stabilise the economy in face of high oil prices? And last but not least, what role does the Organisation of Petroleum Exporting Countries really play? To begin with, there is no doubt that the recent increase in oil price is mainly demand driven, combined with historically low excess capacity and heightened concerns about supply disruptions. And even without macroeconomic knowledge, everyone is aware that higher oil prices affect the economy as a whole and all its market participants. In the following, this paper analyses in detail the current main oil price drivers, their economic consequences and the possible policy responses - always framed by the volatility and uncertainty that characterise the oil market.
Author: Nadine Pahl
Publisher: GRIN Verlag
ISBN: 3640303040
Category : Business & Economics
Languages : en
Pages : 85
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Book Description
Research Paper (undergraduate) from the year 2007 in the subject Business economics - Economic Policy, grade: 1,0, University of Applied Sciences Berlin, course: General Economics, language: English, abstract: Oil prices are an important determinant of global economic performance. Crude Oil prices ranged between $2.50/bbl and $3.00/bbl from 1948 through the end of the 1960s. As of this day, the price for crude oil is $89.82/bbl. In general, spikes in oil prices are not unusual and are, to some extent, symptomatic of a gradual upward trend in daily oil price volatility. Volatile prices arise from supply and demand that are both highly inelastic in the short run, with the result that even small shocks can have large effects on price. But especially within the last few years, the oil price has continuously increased sharply - and to some extent unexpected. This recent sharp increase in the oil price prompts several questions: Why have oil prices risen? What is the impact on the global economy and on individual countries? How do oil importing countries cope with the higher prices? What are appropriate policy responses to stabilise the economy in face of high oil prices? And last but not least, what role does the Organisation of Petroleum Exporting Countries really play? To begin with, there is no doubt that the recent increase in oil price is mainly demand driven, combined with historically low excess capacity and heightened concerns about supply disruptions. And even without macroeconomic knowledge, everyone is aware that higher oil prices affect the economy as a whole and all its market participants. In the following, this paper analyses in detail the current main oil price drivers, their economic consequences and the possible policy responses - always framed by the volatility and uncertainty that characterise the oil market.
Author: Theodore H. Moran
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 122
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Book Description
