Similar Search Results

A model for the global crude oil market using a multi-pool MCP approach

Huppmann, Daniel; Holz, Franziska - 2009

-cooperative way. -- Crude oil ; market structure ; cartel ; pool market ; simulation model …

Persistent link: https://www.econbiz.de/10003821875

A Model for the Global Crude Oil Market Using a Multi-Pool MCP Approach

Huppmann, Daniel; Holz, Franziska - 2012

This paper proposes a partial equilibrium model to describe the global crude oil market. Pricing on the global crude oil market is strongly influenced by price indices such as WTI (USA) and Brent (Northwest Europe). Adapting an approach for pool-based electricity markets, the model captures the...

Persistent link: https://www.econbiz.de/10014206529

Inscrutable OPEC : Behavioral Tests of the Cartel Hypothesis

Smith, James L. - 2015

role of dominant producer within the cartel …

Persistent link: https://www.econbiz.de/10012708235

Mothballing in a duopoly: evidence from a (shale) oil market

Comincioli, Nicola; Hagspiel, Verena; Kort, Peter M.; … - 2020

The mothballing option has been studied in the literature, but mainly in decision theoretic frameworks. This paper looks at it from a strategic point of view and applies it to an incumbent-entrant framework. In particular, based on the recent strategic interactions between OPEC and the shale oil...

Persistent link: https://www.econbiz.de/10012306741

Not all oil types are alike

Güntner, Jochen; Irlacher, Michael; Öhlinger, Peter - 2023

Motivated by the European Union's debate on sanctioning crude oil imports from Russia, we estimate the elasticity of substitution between different crude oil types. Using European data on country-level crude oil imports by field of origin, we argue that crude oil is not a homogenous good and...

Persistent link: https://www.econbiz.de/10014364721

Speculation in Commodity Futures Markets, Inventories and the Price of Crude Oil

Byun, Sung Je - 2021

This paper examines the role of inventories in refiners' gasoline production and develops a structural model of the relationship between crude oil prices and inventories. Using data on inventories and prices of oil futures, I show that convenience yields decrease at a diminishing rate as...

Persistent link: https://www.econbiz.de/10013314658

Imperfect Cartelization in OPEC

Okullo, Samuel Jovan - 2016

restrictive than that of a Cournot-Nash oligopoly, is found to still be more accommodative than that of a perfect cartel. The … participation in the cartel. This is contrary to predictions of the standard cartel model that such producers should be allocated … relatively more stringent quotas. Furthermore, we find that cartel collusion is likely to be sustained for elastic than inelastic …

Persistent link: https://www.econbiz.de/10012996615

Actions Speak Louder than Words : econometric evidence to target tacit collusion in oligopolistic markets

Andreoli Versbach, Patrick; Franck, Jens-Uwe - 2013

Tacit collusion reduces welfare comparably to explicit collusion but remains mostly unaddressed by antitrust enforcement which greatly depends on evidence of explicit communication. We propose to target specific elements of firms' behavior that facilitate tacit collusion by providing...

Persistent link: https://www.econbiz.de/10009777055

Crude by Rail, Option Value, and Pipeline Investment

Covert, Thomas R. - 2019

The U.S. shale boom has profoundly increased crude oil movements by both pipelines–the traditional mode of transportation–and railroads. This paper develops a model of how pipeline investment and railroad use are determined in equilibrium, emphasizing how railroads' flexibility allows them...

Persistent link: https://www.econbiz.de/10012890577

OPEC, Saudi Arabia, and the shale revolution : insights from equilibrium modelling and oil politics

Ansari, Dawud - 2017

Why did OPEC not cut oil production in the wake of 2014's price fall? This study aims at aiding the mostly qualitative discussion with quantitative evidence from computing quarterly partial market equilibria Q4 2011 - Q4 2015 under present short-term profit maximisation and different competition...

Persistent link: https://www.econbiz.de/10012107542