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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
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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
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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
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An Analysis of OPEC's Strategic Actions, US Shale Growth and the 2014 Oil Price Crash
Behar, Alberto - 2016
US shale oil production; (ii) the slowdown of global oil demand; (iii) reduced cohesiveness of the OPEC cartel; (iv …
Persistent link: https://www.econbiz.de/10012977842
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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
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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
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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
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Verschwörung oder Marktwirtschaft? : was bestimmt die Benzinpreise?
Kasten, Christiane; Klepper, Gernot - 2001
Die starken Preissteigerungen für Benzin in den letzten 2 Jahren sind häufig auf mangelnden Wettbewerb zurückgeführt worden. Die These wird überprüft, indem die Wettbewerbsstruktur bei Tankstellen und deren Vorleistungsbeziehungen dargestellt werden und ökonometrische Schätzungen über...
Persistent link: https://www.econbiz.de/10011477112
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Hit-and-Run Competition in the New Oil Market Order
Mauro, Alessandro - 2017
In recent years the oil market has undergone relevant changes, the most evident being the reduction in prices observed from 2014-15. Many tend to associate these changes with temporary factors on the supply or demand side. The author in this paper discusses the importance of the "Shale oil...
Persistent link: https://www.econbiz.de/10012945962
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Geographical Limits to Arbitrage in the Global Oil Market
Grote, Michael H. - 2017
For more than 30 years, the world's main indices for oil prices – WTI in the US and Brent in Europe – have moved in sync. This changed dramatically in 2011, when WTI started trading at a considerable discount to Brent for almost five years. This disparity violated the “law of one price”...
Persistent link: https://www.econbiz.de/10012951276