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Technische Universität Darmstadt >
Institut für Volkswirtschaftslehre, Technische Universität Darmstadt >
Darmstadt Discussion Papers in Economics, Inst. f. VWL, TU Darmstadt >
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http://hdl.handle.net/10419/32075
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| Title: | | Crude oil price determinants  |
| Authors: | | Möbert, Jochen |
| Issue Date: | | 2007 |
| Series/Report no.: | | Darmstadt discussion papers in economics 186 |
| Abstract: | | Based on monthly observations, I specify an econometric model capturing the driving forces behind the crude oil price series in recent years. A large set of covariates, such as supply and demand variables as well as futures market variables, is used to test the impact on the crude oil price. Current price movements are a result of scarce refining capacity and speculators betting on higher prices. The results also question OPECs market power. |
| Subjects: | | Crude oil market Econometric modelling |
| JEL: | | C51 Q41 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Darmstadt Discussion Papers in Economics, Inst. f. VWL, TU Darmstadt
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