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Optimal Oil Producer Behavior Considering Macrofeedbacks

Abstract:
Oil producer decisions on oil pricing and production can affect consumer countries' economies in ways directly affecting producers' interests. The short- and long-term evolution of oil demand in consumer economies is, of course, strongly affected by producer actions. But so also may be returns on assets that producers hold in these economies.

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Energy Specializations: Petroleum – Markets and Prices for Crude Oil and Products; Energy Modeling – Energy Data, Modeling, and Policy Analysis

JEL Codes:
L13 - Oligopoly and Other Imperfect Markets
E61 - Policy Objectives; Policy Designs and Consistency; Policy Coordination

Keywords: Optimal oil producer behavior, Macrofeedbacks, Oil pricing

DOI: 10.5547/ISSN0195-6574-EJ-Vol4-No4-1


Published in Volume 4, Number 4 of The Quarterly Journal of the IAEE's Energy Economics Education Foundation.