The role and behaviour of oil inventories

Working paper

The purposes of this paper are to explain the economics of inventory behaviour, to describe and analyse the changes in oil inventories since the beginning of the Gulf crisis, and to discuss issues of public policies relating to stocks. In Section 2 we emphasize the different economic function performed by inventories in times of crisis, when increased uncertainty and larger variance of expectations tend to increase desired inventory levels. Section 3 describes the evolution of petroleum inven...

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Authors: Caffarra, C

• Publication status: Published
• Peer review status: Reviewed (other)
• Publisher: Oxford Institute for Energy Studies Publisher's website
• Series: OIES paper
• Publication date: 1990-01-01
• Paper number: GWO4
• ISBN: 094806143X
• Language: English
• Keywords: Japan; Europe; oil markets; dtocks; inventory behaviour; oil inventories; Gulf Crisis; OIES; USA; dtockholding