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Abstract:

Like most accidents, the price explosion of 2004−5 was the result of an unlikely combination of events. In 2004 world oil demand was about 2 mb/d above trend, mainly in China but also in the United States, while non-OPEC supply was 0.5 mb/d below. OPEC through 2003 and early 2004 carefully managed to prevent any excessive build-up of stock in importing countries, then, as prices surged in mid 2004, it became clear that Iraq and Venezuela were producing less than expected. Finally, in 2005, Hu...

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Publication status:
Published
Peer review status:
Peer reviewed

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Institution:
University of Oxford
Research group:
Oxford Institute for Energy Studies
Role:
Author
Publisher:
Oxford Institute for Energy Studies Publisher's website
Journal:
Oxford Energy Forum Journal website
Volume:
November 2005
Issue:
63
Pages:
19-19
Publication date:
2005-11-01
ISSN:
0959-7727
Language:
English
Keywords:
UUID:
uuid:250c89d2-a80f-4704-ab3b-1bfac44a004c
Local pid:
ora:10892
Deposit date:
2015-04-09

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