An Analysis of OPEC’s Strategic Actions, US Shale Growth and the 2014 Oil Price Crash

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Publisher : International Monetary Fund
ISBN 13 : 1475534116
Total Pages : 36 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis An Analysis of OPEC’s Strategic Actions, US Shale Growth and the 2014 Oil Price Crash by : Mr.Alberto Behar

Download or read book An Analysis of OPEC’s Strategic Actions, US Shale Growth and the 2014 Oil Price Crash written by Mr.Alberto Behar and published by International Monetary Fund. This book was released on 2016-09-07 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: In November 2014, OPEC announced a new strategy geared towards improving its market share. Oil-market analysts interpreted this as an attempt to squeeze higher-cost producers including US shale oil out of the market. Over the next year, crude oil prices crashed, with large repercussions for the global economy. We present a simple equilibrium model that explains the fundamental market factors that can rationalize such a "regime switch" by OPEC. These include: (i) the growth of US shale oil production; (ii) the slowdown of global oil demand; (iii) reduced cohesiveness of the OPEC cartel; (iv) production ramp-ups in other non-OPEC countries. We show that these qualitative predictions are broadly consistent with oil market developments during 2014-15. The model is calibrated to oil market data; it predicts accommodation up to 2014 and a market-share strategy thereafter, and explains large oil-price swings as well as realistically high levels of OPEC output.

An Analysis of OPEC's Strategic Actions, US Shale Growth and the 2014 Oil Price Crash

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Publisher :
ISBN 13 :
Total Pages : 37 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis An Analysis of OPEC's Strategic Actions, US Shale Growth and the 2014 Oil Price Crash by : Alberto Behar

Download or read book An Analysis of OPEC's Strategic Actions, US Shale Growth and the 2014 Oil Price Crash written by Alberto Behar and published by . This book was released on 2016 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: In November 2014, OPEC announced a new strategy geared towards improving its market share. Oil-market analysts interpreted this as an attempt to squeeze higher-cost producers including US shale oil out of the market. Over the next year, crude oil prices crashed, with large repercussions for the global economy. We present a simple equilibrium model that explains the fundamental market factors that can rationalize such a "regime switch" by OPEC. These include: (i) the growth of US shale oil production; (ii) the slowdown of global oil demand; (iii) reduced cohesiveness of the OPEC cartel; (iv) production ramp-ups in other non-OPEC countries. We show that these qualitative predictions are broadly consistent with oil market developments during 2014-15. The model is calibrated to oil market data; it predicts accommodation up to 2014 and a market-share strategy thereafter, and explains large oil-price swings as well as realistically high levels of OPEC output.

An Analysis of OPEC’s Strategic Actions, US Shale Growth and the 2014 Oil Price Crash

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1498351638
Total Pages : 36 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis An Analysis of OPEC’s Strategic Actions, US Shale Growth and the 2014 Oil Price Crash by : Mr.Alberto Behar

Download or read book An Analysis of OPEC’s Strategic Actions, US Shale Growth and the 2014 Oil Price Crash written by Mr.Alberto Behar and published by International Monetary Fund. This book was released on 2016-07-06 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: In November 2014, OPEC announced a new strategy geared towards improving its market share. Oil-market analysts interpreted this as an attempt to squeeze higher-cost producers including US shale oil out of the market. Over the next year, crude oil prices crashed, with large repercussions for the global economy. We present a simple equilibrium model that explains the fundamental market factors that can rationalize such a "regime switch" by OPEC. These include: (i) the growth of US shale oil production; (ii) the slowdown of global oil demand; (iii) reduced cohesiveness of the OPEC cartel; (iv) production ramp-ups in other non-OPEC countries. We show that these qualitative predictions are broadly consistent with oil market developments during 2014-15. The model is calibrated to oil market data; it predicts accommodation up to 2014 and a market-share strategy thereafter, and explains large oil-price swings as well as realistically high levels of OPEC output.

Global Implications of Lower Oil Prices

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Publisher : International Monetary Fund
ISBN 13 : 151357227X
Total Pages : 41 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Global Implications of Lower Oil Prices by : Mr. Aasim M. Husain

Download or read book Global Implications of Lower Oil Prices written by Mr. Aasim M. Husain and published by International Monetary Fund. This book was released on 2015-07-14 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sharp drop in oil prices is one of the most important global economic developments over the past year. The SDN finds that (i) supply factors have played a somewhat larger role than demand factors in driving the oil price drop, (ii) a substantial part of the price decline is expected to persist into the medium term, although there is large uncertainty, (iii) lower oil prices will support global growth, (iv) the sharp oil price drop could still trigger financial strains, and (v) policy responses should depend on the terms-of-trade impact, fiscal and external vulnerabilities, and domestic cyclical position.

America's Energy Gamble

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Publisher : Cambridge University Press
ISBN 13 : 1316510743
Total Pages : 539 pages
Book Rating : 4.3/5 (165 download)

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Book Synopsis America's Energy Gamble by : Shanti Gamper-Rabindran

Download or read book America's Energy Gamble written by Shanti Gamper-Rabindran and published by Cambridge University Press. This book was released on 2022-01-13 with total page 539 pages. Available in PDF, EPUB and Kindle. Book excerpt: Rigorous exploration of the Trump administration's pro-fossil fuel policy and its lasting impact on public health, the economy, and the environment.

Oil Prices and the Global Economy

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Publisher : International Monetary Fund
ISBN 13 : 1475572360
Total Pages : 30 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Oil Prices and the Global Economy by : Mr.Rabah Arezki

Download or read book Oil Prices and the Global Economy written by Mr.Rabah Arezki and published by International Monetary Fund. This book was released on 2017-01-27 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a simple macroeconomic model of the oil market. The model incorporates features of oil supply such as depletion, endogenous oil exploration and extraction, as well as features of oil demand such as the secular increase in demand from emerging-market economies, usage efficiency, and endogenous demand responses. The model provides, inter alia, a useful analytical framework to explore the effects of: a change in world GDP growth; a change in the efficiency of oil usage; and a change in the supply of oil. Notwithstanding that shale oil production today is more responsive to prices than conventional oil, our analysis suggests that an era of prolonged low oil prices is likely to be followed by a period where oil prices overshoot their long-term upward trend.

Social Sciences Studies in Turkey

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Author :
Publisher : Trafford Publishing
ISBN 13 : 1490788530
Total Pages : 217 pages
Book Rating : 4.4/5 (97 download)

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Book Synopsis Social Sciences Studies in Turkey by : Eyup Saritas

Download or read book Social Sciences Studies in Turkey written by Eyup Saritas and published by Trafford Publishing. This book was released on 2018-05-14 with total page 217 pages. Available in PDF, EPUB and Kindle. Book excerpt: OPEC members have been suffering from the dramatic decline in oil prices over the past two years, which has seen crude dropping to between $40 and $50 per barrel from more than $100 in 2014. Since OPEC declared its noncutting policy on November 2014, both government budgets and economies of oil-exporting countries felt tremendous pressure. Saudi Arabias economy had especially been seriously affected because of the strategy against the USA. Faced with these challenges, OPEC members finally agreed in a September 2016 meeting in Algeria to cut production in principle. Exact quotas were determined in late November. After this meeting, OPEC oil production began to decrease and the oil prices began to increase. In this study, we found that there is a relation between OPECs oil production and oil prices. We observed the monthly data from November 2014 to May 2017, and we showed that the OPECs influence on oil prices are dwindling. OPEC is still important on prices, and the announcements have an effect on these prices; however, this impact is dwindling. Recently, on May 2017, OPEC and other oil producers are on course to agree to an extension of supply cuts by a further nine months. According to Forbes, crude oil prices had gone up by more than 9% in November, following the initial agreement to reduce output, as opposed to just a 2% jump in oil prices when OPEC announced the extension of the cut. This not only indicates that the proposed output restrictions are not enough to have a meaningful impact on oil prices but also hints at the fact that OPECs power to influence crude oil prices is waning.

Oil and the Western Economic Crisis

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Author :
Publisher : Springer
ISBN 13 : 3319525093
Total Pages : 118 pages
Book Rating : 4.3/5 (195 download)

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Book Synopsis Oil and the Western Economic Crisis by : Helen Thompson

Download or read book Oil and the Western Economic Crisis written by Helen Thompson and published by Springer. This book was released on 2017-05-18 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explains the place of oil in the economic and political predicaments that now confront the West. Thompson explains the problems that the rising cost of oil posed in the years leading up to the 2008 crash, and the difficulties that a volatile oil market now poses to economic recovery under the conditions of high debt, low growth and quantitative easing. The author argues that the 'Gordian knot' created by the economic and political dynamics of supply and demand oil in the present international economy poses a fundamental challenge to the assumption of economic progress embedded in Western democratic expectations.

Global Economic Prospects, January 2018

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Publisher : World Bank Publications
ISBN 13 : 1464812454
Total Pages : 240 pages
Book Rating : 4.4/5 (648 download)

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Book Synopsis Global Economic Prospects, January 2018 by : World Bank Group

Download or read book Global Economic Prospects, January 2018 written by World Bank Group and published by World Bank Publications. This book was released on 2018-01-26 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy is in a broad-based cyclical recovery. Investment, manufacturing and trade are on the rebound. Financing conditions are benign, monetary policies are generally accommodative, and the worst impacts of the recent commodity price collapse have begun to dissipate. However, the global economic outlook remains clouded by a number of risks. These include the possibility of financial market disruptions, rising protectionist sentiment, and heightened geopolitical tensions. Of particular concern is evidence of subdued productivity and slowing potential growth. In addition to discussing global and regional economic developments and prospects, this edition of Global Economic Prospects includes a chapter on the causes of the broad-based slowing of potential growth and suggests remedies. The report also contains Special Focus sections on the impact of the 2014-2016 oil price collapse and the relationship between education demographics and global inequality. Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing countries, on a semiannual basis (in January and June). The January edition includes in-depth analyses of topical policy challenges faced by these economies, while the June edition contains shorter analytical pieces.

IMF Research Bulletin, September 2016

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Publisher : International Monetary Fund
ISBN 13 : 1475544162
Total Pages : 20 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis IMF Research Bulletin, September 2016 by : International Monetary Fund. Research Dept.

Download or read book IMF Research Bulletin, September 2016 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2016-09-30 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: The September 2016 issue of the IMF Research Bulletin includes the following two Research Summaries: “A New Look at Bank Capital” (by Jihad Dagher, Giovanni Dell’Ariccia, Luc Laeven, Lev Ratnovski, and Hui Tong) and “Does Growth Create Jobs?: Evidence for Advance and Developing Economies (by Zidong An, Nathalie Gonzalez Prieto, Prakash Loungani, and Saurabh Mishra). The Q&A article by Rabah Arezki discusses “Seven Questions on Rethinking the Oil Market in the Aftermath of the 2014-16 Price Slump.” A listing of recent IMF Working Papers, Staff Discussion Notes, and Recommended Readings from IMF Publications are also included. Readers can also find an announcement on the 2016 Annual Research Conference and links to top cited 2015 articles in the IMF Economic Review.

Organizational Psychology of Mergers and Acquisitions

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Author :
Publisher : Routledge
ISBN 13 : 1317600479
Total Pages : 213 pages
Book Rating : 4.3/5 (176 download)

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Book Synopsis Organizational Psychology of Mergers and Acquisitions by : Camelia Oancea

Download or read book Organizational Psychology of Mergers and Acquisitions written by Camelia Oancea and published by Routledge. This book was released on 2020-06-08 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt: Organizational Psychology of Mergers and Acquisitions provides a comprehensive perspective that helps you understand, empathise and protect the wellbeing of employees who experience mergers and acquisitions. This book gives a state-of-the-art review that crosses different subjects within psychology including psychobiology, neuroscience, social psychology, interpersonal relationships, and organizational psychology. This book discusses why many employees think of mergers or acquisitions as scary or threatening events, why negative emotions are prevalent, their psychobiological impact and how to assess employees’ emotional responses using a new toolkit. It helps readers learn what counts as good leadership, considering the role of charisma, personality, context and information processing abilities. This book includes the issue of organizational learning, and the relevance of occupational health and safety to due diligence about mergers and acquisitions through case studies about organizations sued for cancer or cancer-related mortality after a merger or acquisition. This book is mandatory reading for students, academics, and practitioners working with organizations experiencing a merger or an acquisition such as consultants, human resource professionals, psychologists, occupational health professionals, and employees involved in strategy, management, or people development.

Financial Crises

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Publisher : International Monetary Fund
ISBN 13 : 1475543409
Total Pages : 670 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Financial Crises by : Mr.Stijn Claessens

Download or read book Financial Crises written by Mr.Stijn Claessens and published by International Monetary Fund. This book was released on 2014-02-19 with total page 670 pages. Available in PDF, EPUB and Kindle. Book excerpt: The lingering effects of the economic crisis are still visible—this shows a clear need to improve our understanding of financial crises. This book surveys a wide range of crises, including banking, balance of payments, and sovereign debt crises. It begins with an overview of the various types of crises and introduces a comprehensive database of crises. Broad lessons on crisis prevention and management, as well as the short-term economic effects of crises, recessions, and recoveries, are discussed.

Windfall

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Publisher : Simon and Schuster
ISBN 13 : 150110795X
Total Pages : 496 pages
Book Rating : 4.5/5 (11 download)

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Book Synopsis Windfall by : Meghan L. O'Sullivan

Download or read book Windfall written by Meghan L. O'Sullivan and published by Simon and Schuster. This book was released on 2017-09-12 with total page 496 pages. Available in PDF, EPUB and Kindle. Book excerpt: Windfall is the boldest profile of the world’s energy resources since Daniel Yergin’s The Quest, asserting that the new energy abundance—due to oil and gas resources once deemed too expensive—is transforming the geo-political order and is boosting American power. “Riveting and comprehensive...a smart, deeply researched primer on the subject.” —The New York Times Book Review As a new administration focuses on driving American energy production, O’Sullivan’s “refreshing and illuminating” (Foreign Policy) Windfall describes how new energy realities have profoundly affected the world of international relations and security. New technologies led to oversupplied oil markets and an emerging natural gas glut. This did more than drive down prices—it changed the structure of markets and altered the way many countries wield power and influence. America’s new energy prowess has global implications. It transforms politics in Russia, Europe, China, and the Middle East. O’Sullivan considers the landscape, offering insights and presenting consequences for each region’s domestic stability as energy abundance upends traditional partnerships, creating opportunities for cooperation. The advantages of this new abundance are greater than its downside for the US: it strengthens American hard and soft power. This is “a powerful argument for how America should capitalise on the ‘New Energy Abundance’” (The Financial Times) and an explanation of how new energy realities create a strategic environment to America’s advantage.

The Future of Oil and Fiscal Sustainability in the GCC Region

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1513525905
Total Pages : 55 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis The Future of Oil and Fiscal Sustainability in the GCC Region by : Mr.Tokhir N Mirzoev

Download or read book The Future of Oil and Fiscal Sustainability in the GCC Region written by Mr.Tokhir N Mirzoev and published by International Monetary Fund. This book was released on 2020-02-06 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: The oil market is undergoing fundamental change. New technologies are increasing the supply of oil from old and new sources, while rising concerns over the environment are seeing the world gradually moving away from oil. This spells a significant challenge for oil-exporting countries, including those of the Gulf Cooperation Council (GCC) who account for a fifth of the world’s oil production. The GCC countries have recognized the need to reduce their reliance on oil and are all implementing reforms to diversify their economies as well as fiscal and external revenues. Nevertheless, as global oil demand is expected to peak in the next two decades, the associated fiscal imperative could be both larger and more urgent than implied by the GCC countries’ existing plans.

Job Creation and Destruction

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Author :
Publisher : MIT Press (MA)
ISBN 13 : 9780262041522
Total Pages : 260 pages
Book Rating : 4.0/5 (415 download)

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Book Synopsis Job Creation and Destruction by : Steven J. Davis

Download or read book Job Creation and Destruction written by Steven J. Davis and published by MIT Press (MA). This book was released on 1996 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume considers the American manufacturing industry, and develops a statistical portait of the microeconomic adjustments that affect business and workers. The authors focus on the employer rather than worker side of the process aiming to show the processes that will be relevant to economists.

Caribbean Energy

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1513560743
Total Pages : 67 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Caribbean Energy by : Arnold McIntyre

Download or read book Caribbean Energy written by Arnold McIntyre and published by International Monetary Fund. This book was released on 2016-03-08 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: High energy costs contribute to dampening Caribbean competitiveness and potential growth. This paper overviews power sector challenges and takes stock of national and regional strategies to address them. It presents recommendations to move the energy agenda forward based on analyses of macro-aspects of energy reform. These include: i) quantitative assessment of the impact of energy costs on growth and competitiveness; ii) evaluation of gains from implementing announced renewable energy and energy efficiency targets; and iii) analysis of the impact of energy investments on debt sustainability. The paper argues for a bigger role for the private sector in energy reform and discusses prerequisites for good public-private partnerships.

Energy and Security

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Publisher : JHU Press
ISBN 13 : 1421414058
Total Pages : 601 pages
Book Rating : 4.4/5 (214 download)

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Book Synopsis Energy and Security by : Jan H. Kalicki

Download or read book Energy and Security written by Jan H. Kalicki and published by JHU Press. This book was released on 2013-11-20 with total page 601 pages. Available in PDF, EPUB and Kindle. Book excerpt: The second, completely updated edition of this widely read and respected guide is the most authoritative survey available on the perennial question of energy security. Energy and Security gathers today's topmost foreign policy and energy experts and leaders to assess how the United States can integrate its energy and national security interests. This edition offers fresh analysis and insight into • Fundamental shifts in the global energy balance • The revolution in shale gas and oil • New energy frontiers, from ultra deepwater to the Arctic • The rising agenda of safety concerns across the energy complex • Energy poverty • Infrastructure for modernizing power grids • Climate security in the current political and economic environment The contributors offer a lively discussion of the challenges and opportunities presented by these changes and how they affect national security and regional politics around the globe.