Oil Price Developments: Drivers, Economic Consequences and Policy Responses
This paper analyses the factors influencing the price of oil and its likely evolution over the next quarter century. It begins by investigating the fundamental forces shaping long-term oil price developments, highlighting the importance of growth-led demand for oil, particularly that emanating from...
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| Weitere Verfasser: | , , , |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2004
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| Schriftenreihe: | OECD Economics Department Working Papers
no.412 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | This paper analyses the factors influencing the price of oil and its likely evolution over the next quarter century. It begins by investigating the fundamental forces shaping long-term oil price developments, highlighting the importance of growth-led demand for oil, particularly that emanating from fast-growing, energy-intensive developing countries, and the implications of increasingly geographically concentrated oil reserves. The paper presents oil price projections to 2030 and examines the sensitivity of the projections to the assumptions about growth and non-OPEC supply. While certain combinations of factors could lead to a significantly higher oil price, the projections also suggest that the optimal strategy of resource-rich oil producers would be to prevent it rising too far. The paper then documents short-term influences on the oil price, which peaked at USD50 a barrel in 2004, and notes that they have probably led to a significant departure from the long-run equilibrium price ... |
| Beschreibung: | 1 Online-Ressource (51 p.) 21 x 29.7cm. |
| DOI: | 10.1787/303505385758 |
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| spelling | Brook, Anne-Marie VerfasserIn aut Oil Price Developments Drivers, Economic Consequences and Policy Responses Anne-Marie, Brook ... [et al] Paris OECD Publishing 2004 1 Online-Ressource (51 p.) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.412 This paper analyses the factors influencing the price of oil and its likely evolution over the next quarter century. It begins by investigating the fundamental forces shaping long-term oil price developments, highlighting the importance of growth-led demand for oil, particularly that emanating from fast-growing, energy-intensive developing countries, and the implications of increasingly geographically concentrated oil reserves. The paper presents oil price projections to 2030 and examines the sensitivity of the projections to the assumptions about growth and non-OPEC supply. While certain combinations of factors could lead to a significantly higher oil price, the projections also suggest that the optimal strategy of resource-rich oil producers would be to prevent it rising too far. The paper then documents short-term influences on the oil price, which peaked at USD50 a barrel in 2004, and notes that they have probably led to a significant departure from the long-run equilibrium price ... Economics Price, Robert MitwirkendeR ctb Sutherland, Douglas MitwirkendeR ctb Westerlund, Niels MitwirkendeR ctb André, Christophe MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/303505385758 Volltext |
| spellingShingle | Brook, Anne-Marie Oil Price Developments Drivers, Economic Consequences and Policy Responses Economics |
| title | Oil Price Developments Drivers, Economic Consequences and Policy Responses |
| title_auth | Oil Price Developments Drivers, Economic Consequences and Policy Responses |
| title_exact_search | Oil Price Developments Drivers, Economic Consequences and Policy Responses |
| title_full | Oil Price Developments Drivers, Economic Consequences and Policy Responses Anne-Marie, Brook ... [et al] |
| title_fullStr | Oil Price Developments Drivers, Economic Consequences and Policy Responses Anne-Marie, Brook ... [et al] |
| title_full_unstemmed | Oil Price Developments Drivers, Economic Consequences and Policy Responses Anne-Marie, Brook ... [et al] |
| title_short | Oil Price Developments |
| title_sort | oil price developments drivers economic consequences and policy responses |
| title_sub | Drivers, Economic Consequences and Policy Responses |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/303505385758 |
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