Crude oil prices as determined by OPEC and market fundamentals
Book
·
OSTI ID:6755271
A detailed analysis of the causes of oil price increases during the last decade and of the consequences for price levels in the 1980s, this study includes both market fundamentals and the OPEC cartel in identifying major and minor determinants of price changes in the world crude-oil market. MacAvoy poses a scenario without OPEC, and argues that world-market supply-and-demand conditions would have resulted in the same yearly average price increases. He argues that pressuring OPEC to prevent or mitigate future price increases will not work. Instead, policymakers must view crude oil prices from a wider political and economic perspective. Only then can they successfully anticipate abrupt price changes that are inherent to the market itself. 30 references, 9 figures, 52 tables.
- OSTI ID:
- 6755271
- Country of Publication:
- United States
- Language:
- English
Similar Records
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Journal Article
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· J. Energy Dev.; (United States)
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OSTI ID:5423283
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Thesis/Dissertation
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Wed Dec 31 23:00:00 EST 1986
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Related Subjects
02 PETROLEUM
020700 -- Petroleum-- Economics
Industrial
& Business Aspects
29 ENERGY PLANNING, POLICY, AND ECONOMY
290200 -- Energy Planning & Policy-- Economics & Sociology
294002* -- Energy Planning & Policy-- Petroleum
ECONOMIC ANALYSIS
ECONOMICS
ENERGY SOURCES
FOSSIL FUELS
FUELS
INTERNATIONAL ORGANIZATIONS
MARKET
OIL-EXPORTING COUNTRIES
OPEC
PETROLEUM
PRICES
SUPPLY AND DEMAND
020700 -- Petroleum-- Economics
Industrial
& Business Aspects
29 ENERGY PLANNING, POLICY, AND ECONOMY
290200 -- Energy Planning & Policy-- Economics & Sociology
294002* -- Energy Planning & Policy-- Petroleum
ECONOMIC ANALYSIS
ECONOMICS
ENERGY SOURCES
FOSSIL FUELS
FUELS
INTERNATIONAL ORGANIZATIONS
MARKET
OIL-EXPORTING COUNTRIES
OPEC
PETROLEUM
PRICES
SUPPLY AND DEMAND