Changing Crude Oil Markets

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Changing Crude Oil Markets

Author : U.s. Government Accountability Office
Publisher : Createspace Independent Publishing Platform
ISBN 13 : 9781973954149
Total Pages : 52 pages
Book Rating : 4.9/5 (541 download)

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Book Synopsis Changing Crude Oil Markets by : U.s. Government Accountability Office

Download or read book Changing Crude Oil Markets written by U.s. Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-07-27 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: " Almost 4 decades ago, in response to the Arab oil embargo and recession it triggered, Congress passed legislation restricting crude oil exports and establishing the SPR to release oil to the market during supply disruptions and protect the U.S. economy from damage. After decades of generally falling U.S. crude oil production, technological advances have contributed to increasing U.S. production. Meanwhile, net crude oil imports-imports minus exports-have declined from a peak of about 60 percent of consumption in 2005 to 30 percent in the first 5 months of 2014. According to Energy Information Administration forecasts, net imports are expected to remain well below 2005 levels into the future. GAO was asked to provide information on the implications of removing crude oil export restrictions. This report examines what is known about (1) price implications of removing crude oil export restrictions; (2) other key potential implications; and (3) implications of recent changes in market conditions on the SPR. GAO reviewed four studies on crude oil exports, including two sponsored by industry, and summarized the literature and views of a nonprobability sample of stakeholders including academic, industry, and other experts. "

Changing Crude Oil Markets

Author :
Publisher :
ISBN 13 :
Total Pages : 45 pages
Book Rating : 4.:/5 (893 download)

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Book Synopsis Changing Crude Oil Markets by :

Download or read book Changing Crude Oil Markets written by and published by . This book was released on 2014 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: Almost 4 decades ago, in response to the Arab oil embargo and recession it triggered, Congress passed legislation restricting crude oil exports and establishing the SPR to release oil to the market during supply disruptions and protect the U.S. economy from damage. After decades of generally falling U.S. crude oil production, technological advances have contributed to increasing U.S. production. Meanwhile, net crude oil imports (imports minus exports) have declined from a peak of about 60 percent of consumption in 2005 to 30 percent in the first 5 months of 2014. According to Energy Information Administration forecasts, net imports are expected to remain well below 2005 levels into the future. GAO was asked to provide information on the implications of removing crude oil export restrictions. This report examines what is known about (1) price implications of removing crude oil export restrictions; (2) other key potential implications; and (3) implications of recent changes in market conditions on the SPR. GAO reviewed four studies on crude oil exports, including two sponsored by industry, and summarized the literature and views of a nonprobability sample of stakeholders including academic, industry, and other experts. In view of changing market conditions and in tandem with activities to assess other aspects of the SPR, GAO recommends that the Secretary of Energy reexamine the size of the SPR.

Changing Crude Oil Markets

Author :
Publisher :
ISBN 13 :
Total Pages : 45 pages
Book Rating : 4.:/5 (893 download)

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Book Synopsis Changing Crude Oil Markets by :

U.S. Oil Refining Industry: Background in Changing Markets and Fuel Policies

Author : Anthony Andrews
Publisher : DIANE Publishing
ISBN 13 : 1437943063
Total Pages : 43 pages
Book Rating : 4.4/5 (379 download)

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Book Synopsis U.S. Oil Refining Industry: Background in Changing Markets and Fuel Policies by : Anthony Andrews

Download or read book U.S. Oil Refining Industry: Background in Changing Markets and Fuel Policies written by Anthony Andrews and published by DIANE Publishing. This book was released on 2010 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report begins by looking at the current production capacity of the oil refineries operating in the United States, and the sources and changes in crude oil supply. It then examines the changing characteristics of petroleum and petroleum product markets and identifies the effects of these changes on the refining industry. The report concludes with discussion of the policy and regulatory factors that are likely to affect the structure and performance of the industry during the next decade.

The United States Refining Policy in a Changing World Oil Environment

Author : United States. General Accounting Office
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.:/5 (8 download)

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Book Synopsis The United States Refining Policy in a Changing World Oil Environment by : United States. General Accounting Office

Download or read book The United States Refining Policy in a Changing World Oil Environment written by United States. General Accounting Office and published by . This book was released on 1979 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Crude Volatility

Author : Robert McNally
Publisher : Columbia University Press
ISBN 13 : 0231543689
Total Pages : 336 pages
Book Rating : 4.2/5 (315 download)

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Book Synopsis Crude Volatility by : Robert McNally

Download or read book Crude Volatility written by Robert McNally and published by Columbia University Press. This book was released on 2017-01-17 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: As OPEC has loosened its grip over the past ten years, the oil market has been rocked by wild price swings, the likes of which haven't been seen for eight decades. Crafting an engrossing journey from the gushing Pennsylvania oil fields of the 1860s to today's fraught and fractious Middle East, Crude Volatility explains how past periods of stability and volatility in oil prices help us understand the new boom-bust era. Oil's notorious volatility has always been considered a scourge afflicting not only the oil industry but also the broader economy and geopolitical landscape; Robert McNally makes sense of how oil became so central to our world and why it is subject to such extreme price fluctuations. Tracing a history marked by conflict, intrigue, and extreme uncertainty, McNally shows how—even from the oil industry's first years—wild and harmful price volatility prompted industry leaders and officials to undertake extraordinary efforts to stabilize oil prices by controlling production. Herculean market interventions—first, by Rockefeller's Standard Oil, then, by U.S. state regulators in partnership with major international oil companies, and, finally, by OPEC—succeeded to varying degrees in taming the beast. McNally, a veteran oil market and policy expert, explains the consequences of the ebbing of OPEC's power, debunking myths and offering recommendations—including mistakes to avoid—as we confront the unwelcome return of boom and bust oil prices.

The Changing Structure of the World Oil Industry

Author : David Hawdon
Publisher : Routledge
ISBN 13 : 1351388533
Total Pages : 163 pages
Book Rating : 4.3/5 (513 download)

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Book Synopsis The Changing Structure of the World Oil Industry by : David Hawdon

Download or read book The Changing Structure of the World Oil Industry written by David Hawdon and published by Routledge. This book was released on 2017-09-06 with total page 163 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally published in 1985 by a group of international experts and oil industry officials, this book surveys the dramatic changes which took place in the oil industry in the second half of the twentieth century. It discusses the role of OPEC and the long term impact its decisions had for both producers and oil consumers and examines possible future trends in the oil industry structure and stability, together with the possible consequences for North Sea oil and gas development.

Changing Crude Oil Markets :.

Author :
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (124 download)

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Book Synopsis Changing Crude Oil Markets :. by :

Download or read book Changing Crude Oil Markets :. written by and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Middle East and North Africa in a Changing Oil Market

Author : Mr.Bright E Okogu
Publisher : International Monetary Fund
ISBN 13 : 9781589062344
Total Pages : 32 pages
Book Rating : 4.0/5 (623 download)

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Book Synopsis The Middle East and North Africa in a Changing Oil Market by : Mr.Bright E Okogu

Download or read book The Middle East and North Africa in a Changing Oil Market written by Mr.Bright E Okogu and published by International Monetary Fund. This book was released on 2003-09-05 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world oil market has undergone a series of changes that have reduced the share of oil in the global energy balance and, with it, the influence of Middle Eastern oil exporters. In spite of oil’s loss of ground, however, Middle Eastern countries remain at the center of world oil developments. This paper focuses on the developments in the international oil market, the role of Middle Eastern countries therein, and the policy challenges arising from the dependency on oil.

Changing Structures in the World Oil Market

Author : Ian McC. Torrens
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Changing Structures in the World Oil Market by : Ian McC. Torrens

Download or read book Changing Structures in the World Oil Market written by Ian McC. Torrens and published by . This book was released on 1980 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The State and the International Oil Market

Author : C. van der Linde
Publisher : Springer Science & Business Media
ISBN 13 : 1461545757
Total Pages : 179 pages
Book Rating : 4.4/5 (615 download)

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Book Synopsis The State and the International Oil Market by : C. van der Linde

Download or read book The State and the International Oil Market written by C. van der Linde and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 179 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abbreviations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ix Chapter 1 INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Chapter 2 REDRAWING THE BOUNDARIES BETWEEN STATE AND COMPANY . . . 3 Chapter 3 STATE PARTICIPATION IN THE ECONOMY . . . . . . . . . . . . . . . . . . . . . 25 Chapter 4 INTERNATIONAL ECONOMIC INSTABILITY . . . . . . . . . . . . . . . . . . . . . 49 Chapter 5 THE FAILURE OF OPEC TO SECURE ECONOMIC RENTS . . . . . . . . . . 67 Chapter 6 TURNING BLACK GOLD INTO DEVELOPMENT . . . . . . . . . . . . . . . . . . 81 Chapter 7 NATIONAL OIL COMPANIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 97 Chapter 8 AMBITIOUS CONSOLIDATION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 127 Chapter 9 STRATEGIC CONSOLIDATION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 151 References . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 155 Index . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 165 PREFACE This book has been kicking around my desk for quite some time. On and off I returned to my work on the role of the state in the economy and the international oil market, but for a long time I was not satisfied with the shape it was in. I understand now that I needed the insights developed over the past couple of years on the role of the state, regulation, liberalization, privatization, and the recent events in the international oil industry to bring all my ideas together in a more coherent format. It was the events that followed the Asian financial crisis that drew me back to finish writing this book. The early beginnings of this book were developed at the Institute of International Affairs, Chatham I-louse, in London, where I was a research fellow with the Energy and Environment Programme in 1992 and 1993. At the Colorado School of Mines, I had the opportunity to test my ideas in a graduate class, and continue the research.

The Politics of Oil

Author : Dag Harald Claes
Publisher : Edward Elgar Publishing
ISBN 13 : 1785360183
Total Pages : 385 pages
Book Rating : 4.7/5 (853 download)

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Book Synopsis The Politics of Oil by : Dag Harald Claes

Download or read book The Politics of Oil written by Dag Harald Claes and published by Edward Elgar Publishing. This book was released on 2018-11-30 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Politics of Oil brings together legal studies, economics, and political science to illustrate how governments gain and exercise control over oil resources and how political actors influence the global oil market, both individually and in cooperation with each other. The author also investigates the role of oil in preserving regime stability, in civil wars and in inter-state conflicts, as well as discussing the possible implications for the oil industry from policies to combat climate change.

21st Century Energy Markets

Author : United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Energy and Power
Publisher :
ISBN 13 :
Total Pages : 152 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis 21st Century Energy Markets by : United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Energy and Power

Download or read book 21st Century Energy Markets written by United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Energy and Power and published by . This book was released on 2015 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt:

World Energy Markets

Author : William F. Thompson
Publisher : Routledge
ISBN 13 : 1000002233
Total Pages : 703 pages
Book Rating : 4.0/5 ( download)

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Book Synopsis World Energy Markets by : William F. Thompson

Download or read book World Energy Markets written by William F. Thompson and published by Routledge. This book was released on 2020-12-17 with total page 703 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally published in 1985, this volume contains the seventh meeting proceedings of the International Association of Energy Economists. North American Meeting held in Philadelphia, Pennsylvania, in December 1985.

International Oil Markets in the Age of Climate Change

Author : Adi Imsirovic
Publisher : Springer Nature
ISBN 13 : 3031609905
Total Pages : 207 pages
Book Rating : 4.0/5 (316 download)

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Book Synopsis International Oil Markets in the Age of Climate Change by : Adi Imsirovic

Download or read book International Oil Markets in the Age of Climate Change written by Adi Imsirovic and published by Springer Nature. This book was released on with total page 207 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Oil Markets in the Post-Covid-19 World

Author : Mohammed Hamdaoui
Publisher : Trends Research & advisory
ISBN 13 : 9948251121
Total Pages : 47 pages
Book Rating : 4.9/5 (482 download)

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Book Synopsis Oil Markets in the Post-Covid-19 World by : Mohammed Hamdaoui

Download or read book Oil Markets in the Post-Covid-19 World written by Mohammed Hamdaoui and published by Trends Research & advisory. This book was released on 2020-01-01 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: The scale of the socio-economic impact of the Covid-19 pandemic on the global economy has not been witnessed since the Great Depression. Isolation measures, implemented across the globe to contain the virus, confined hundreds of millions of people into their homes, bringing economic activities to a standstill. This crisis has impacted the oil and gas industry in an unprecedented manner. A massive decline in oil demand and a large oversupply, intensified by the price war between Russia and Saudi Arabia, has sent oil prices to levels unseen in decades. While the oil industry has faced several crises that have pushed it to find new ways to conduct business and adapt to changing conditions, the Covid-induced crisis has come when the industry is dealing with increased shareholder activism and intense pressure on the environmental front. Since this is a new phase for the industry, it could also become the catalyst that accelerates the transformation it has started to go through. Oil will continue to play an essential role in the energy mix for many decades. However, oil companies will have to navigate and manage an uncertain future as oil and gas projects will be riskier to develop and consequently require a higher rate of return. They will have to diversify their portfolios and continue shifting toward an integrated business model that embraces the changes caused by the energy transition and the growth in renewable and new technologies.

Trading and Price Discovery for Crude Oils

Author : Adi Imsirovic
Publisher : Springer Nature
ISBN 13 : 3030717186
Total Pages : 262 pages
Book Rating : 4.0/5 (37 download)

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Book Synopsis Trading and Price Discovery for Crude Oils by : Adi Imsirovic

Download or read book Trading and Price Discovery for Crude Oils written by Adi Imsirovic and published by Springer Nature. This book was released on 2021-05-19 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a book about the international oil market. It takes a historical perspective on how the market emerged, developed, and became what it is today—the biggest commodity market in the world. It is mature and complex, but far from perfect. Throughout most of its 150-year history, the oil market has been monopolised by companies and governments. For only a fraction of that, oil traded in a relatively free market. As a result, we had to live with ‘big oil’, economic shocks, high oil prices, instability and wars. Using a simple concept of market power, this book will explain the meaning of ‘oil price’ and how it is established while offering a valuable lesson for other commodities. Market power is the key to understanding the ‘price of oil’. This book uses a simple concept of price-makers and price-takers to examine the evolution of oil markets, their structure, and prices. The early decades of the oil industry were competitive with low barriers to entry. Barely 25 years later, the Standard Oil company created a refining monopoly, buying oil at its own ‘posted’ price. In the following century, the cartel of major oil companies, helped by their governments, did the same at the international level. OPEC helped producing governments regain control of their own resources, but the organisation was never able to retain a similar level of control. After 1986 price collapse, OPEC abdicated the price-making function in favour of the market. While it never gave up attempts to influence prices, OPEC had to link their official prices to one of the global oil benchmarks. Modern international oil markets function because of oil benchmarks such as Brent, WTI and Dubai. This book showcases: • How oil traders played a prominent role in development of the industry • How policies of consuming nations helped oil cartels • Why and how the US price of oil was negative • How AI has changed the way markets operate and the way in which the markets are likely to change in future This book explores how oil markets grew, functioned, and have occasionally failed to do their job. The ecosystem of derivatives or ‘paper barrels’ trading in far greater volume than physical oil plays a very important role in mitigating risk. With this core tenant, setting the ‘price of oil’ is explained in detail.