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Prospects for a Tighter World Oil Market

Abstract:
Once again, the world oil market has failed to behave according to expectation. This time, the predictions of sharp price drops did not materialize-nor did previous forecasts of continuing escalation. This ongoing divergence between expectations and reality is becoming standard-as is the remarkable resiliency in the position and behavior of Saudi Arabia.

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Energy Specializations: Petroleum – Markets and Prices for Crude Oil and Products; Energy Modeling – Forecasting and Market Analysis

JEL Codes:
L13 - Oligopoly and Other Imperfect Markets
D4 -

Keywords: World oil market, Oil price volatility, Saudi Arabia, Forecasting

DOI: 10.5547/ISSN0195-6574-EJ-Vol6-No1-1


Published in Volume 6, Number 1 of The Quarterly Journal of the IAEE's Energy Economics Education Foundation.