An Analysis of OPEC s Strategic Actions US Shale Growth and the 2014 Oil Price Crash is popular PDF and ePub book, written by Mr.Alberto Behar in 2016-09-07, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, An Analysis of OPEC s Strategic Actions US Shale Growth and the 2014 Oil Price Crash can be Read Online from any device for your convenience.
An Analysis of OPEC s Strategic Actions US Shale Growth and the 2014 Oil Price Crash Book PDF Summary
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.
Detail Book of An Analysis of OPEC s Strategic Actions US Shale Growth and the 2014 Oil Price Crash PDF
- Author : Mr.Alberto Behar
- Release : 07 September 2016
- Publisher : International Monetary Fund
- ISBN : 9781475534115
- Genre : Business & Economics
- Total Page : 36 pages
- Language : English
- PDF File Size : 11,5 Mb
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