Understanding Crude Oil Prices

منو

" Understanding Crude Oil Prices "
Hamilton, James Douglas

Document Type	:	AL
Record Number	:	910080
Doc. No	:	LA3fg2r29s
Title & Author	:	Understanding Crude Oil Prices [Article]\ Hamilton, James Douglas
Date	:	2008
Title of Periodical	:	UC Berkeley
Abstract	:	This paper examines the factors responsible for changes in crude oil prices. The paper reviews the statistical behavior of oil prices, relates these to the predictions of theory, and looks in detail at key features of petroleum demand and supply. Topics discussed include the role of commodity speculation, OPEC, and resource depletion. The paper concludes that although scarcity rent made a negligible contribution to the price of oil in 1997, it may be an important feature of the most recent data.