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- W2797393506 abstract "In this study, we report on the current state of the international market for crude oil. The market data we analyzed indicate that competition has intensified as a result of the now firmly-established shale oil extraction industry in the U.S. Model-based simulations also show that supply-side shifts should only have moderate price effects. This applies to both an expansion in U.S. shale oil production and a disruption of production in OPEC countries. Market data and simulations indicate that the crude oil market is currently in a new equilibrium that appears to be relatively robust in the short term. In the absence of further shocks, we can continue to expect a moderate price level for crude oil in the short term with corresponding implications for economic and climate policy." @default.
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- W2797393506 date "2017-01-01" @default.
- W2797393506 modified "2023-09-28" @default.
- W2797393506 title "Crude Oil: Market Trends and Simulations Point toward Stable Equilibrium" @default.
- W2797393506 hasPublicationYear "2017" @default.
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