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Oil price differentials : markets in disarray

Abstract:

The conventional wisdom about the current behaviour of oil prices is essentially very simple. It is comprised of two assertions and then an inference. It runs as follows. First, there is no physical shortage in oil markets. Secondly, there is no stockbuilding (or “hoarding”) at least not by the important oil companies. The price rises in oil markets since the Iraqi invasion of Kuwait can then only be due to “psychology” and “sentiment”. These latter terms have dismissive connotations. They su...

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Publication status:
Published
Peer review status:
Reviewed (other)

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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
Series:
OIES paper
Publication date:
1990-01-01
Paper number:
GWO3
ISBN:
0948061421
Language:
English
Keywords:
UUID:
uuid:4319263e-8949-477e-befa-0a2ced48e154
Local pid:
ora:10229
Deposit date:
2015-02-27

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