Crude Oil and it’s price history
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The history of price fluctuations of crude oil by Corporate Munim. Corporate Munim is a leading ERP Software Solution provider company in India. Also providing Oil & Gas ERP Software Solutions across the world.
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Oil Prices Explained: Putting a dollar value on a barrel of crude
Crude oil and petroleum products are globally traded commodities, whose prices are largely governed by supply and demand fundamentals. But global currencies, availability of money flow and market sentiment also play an important role.
change in oil prices
1. Global supply of oil has surpassed demand, resulting in falling prices. Increased output from Libya, the US shale oil boom, and tepid Asian demand have all contributed to higher supply.
2. Factors putting downward pressure on prices include a slowdown in the Eurozone economy and infighting within OPEC as members try to maintain market share.
3. High oil prices can lead to recessions as people spend only on necessities, hurting businesses and government finances through reduced growth and tax collection. Housing prices and overall economic activity also tend to suffer.
Real Global Price of Oil
The document analyzes the historical global price of oil from 1970 to 2000, accounting for inflation and fluctuations in the US dollar's value. It introduces the concept of real global price of oil, which is the true price relative to OPEC countries that set the price. A graph shows that from 1986 to 1995, the real global price varied between $11-19 per barrel. The document also discusses events like the abandonment of the Bretton Woods agreement in 1971 that tied currency to gold, which led countries to exchange dollars for gold and impacted the oil market.
Factors affecting demand and supply of oil
Oil is the major
source of energy from most of the developed as well as developing countries around the world.
Therefore a change in the supply of oil will significantly affect operations in most parts of the
world. There are a number of factors that affect the demand and supply of oil in the world.
- See more at: http://www.customwritingservice.org/blog/factors-affecting-demand-and-supply-of-oil
Oil price - Demand or supply factors at work
Oil price driven by demand side or supply side factors?? The effect of falling prices and strengthening dollar to EM's
The Economics of Oil
- John D. Rockefeller founded Standard Oil in 1870 and by 1877 it controlled over 90% of the American oil refining industry. The invention of the combustion engine in 1895 drove increased oil demand and exploration.
- Major oil discoveries were made in the 1930s-40s in Saudi Arabia and Kuwait, shifting oil production away from the US. This started America's growing reliance on foreign oil. OPEC was formed in 1960 to give oil exporting countries more leverage.
- Significant events and oil price fluctuations followed, including the 1973 Arab oil embargo against the US and price spikes in the late 1970s and 2008. The BP Gulf of Mexico oil spill in 2010 was the largest and most catastrophic oil spill in history
A study on Crude Oil
The document discusses the relationship between crude oil prices, the rupee-dollar exchange rate, and geopolitical events. It notes that India imports over 3 million barrels of crude oil per day, accounting for over 50% of its exports. When crude oil futures prices increase, it drives up imports and the demand for dollars, putting pressure on the rupee to depreciate against the dollar. Geopolitical events that disrupt global oil supply can also impact crude oil prices by creating uncertainty about future availability, leading to higher price volatility in the short term due to inelastic supply and demand.
Economy of Oil Price
This document provides a summary of oil price history and trends from 1986 to 2012 based on data from the U.S. Energy Information Administration. It notes that oil prices generally increased over this period, with the exception of a dip in 2008-2009. The document also discusses factors that influence oil prices such as seasonal demand changes, geopolitical events, and increasing demand from developing countries like China and India. Overall, the document analyzes historical oil price data and identifies key economic and geopolitical drivers that have impacted prices over time.
Recommended
Oil Prices Explained: Putting a dollar value on a barrel of crude
Crude oil and petroleum products are globally traded commodities, whose prices are largely governed by supply and demand fundamentals. But global currencies, availability of money flow and market sentiment also play an important role.
change in oil prices
1. Global supply of oil has surpassed demand, resulting in falling prices. Increased output from Libya, the US shale oil boom, and tepid Asian demand have all contributed to higher supply.
2. Factors putting downward pressure on prices include a slowdown in the Eurozone economy and infighting within OPEC as members try to maintain market share.
3. High oil prices can lead to recessions as people spend only on necessities, hurting businesses and government finances through reduced growth and tax collection. Housing prices and overall economic activity also tend to suffer.
Real Global Price of Oil
The document analyzes the historical global price of oil from 1970 to 2000, accounting for inflation and fluctuations in the US dollar's value. It introduces the concept of real global price of oil, which is the true price relative to OPEC countries that set the price. A graph shows that from 1986 to 1995, the real global price varied between $11-19 per barrel. The document also discusses events like the abandonment of the Bretton Woods agreement in 1971 that tied currency to gold, which led countries to exchange dollars for gold and impacted the oil market.
Factors affecting demand and supply of oil
Oil is the major
source of energy from most of the developed as well as developing countries around the world.
Therefore a change in the supply of oil will significantly affect operations in most parts of the
world. There are a number of factors that affect the demand and supply of oil in the world.
- See more at: http://www.customwritingservice.org/blog/factors-affecting-demand-and-supply-of-oil
Oil price - Demand or supply factors at work
Oil price driven by demand side or supply side factors?? The effect of falling prices and strengthening dollar to EM's
The Economics of Oil
- John D. Rockefeller founded Standard Oil in 1870 and by 1877 it controlled over 90% of the American oil refining industry. The invention of the combustion engine in 1895 drove increased oil demand and exploration.
- Major oil discoveries were made in the 1930s-40s in Saudi Arabia and Kuwait, shifting oil production away from the US. This started America's growing reliance on foreign oil. OPEC was formed in 1960 to give oil exporting countries more leverage.
- Significant events and oil price fluctuations followed, including the 1973 Arab oil embargo against the US and price spikes in the late 1970s and 2008. The BP Gulf of Mexico oil spill in 2010 was the largest and most catastrophic oil spill in history
A study on Crude Oil
The document discusses the relationship between crude oil prices, the rupee-dollar exchange rate, and geopolitical events. It notes that India imports over 3 million barrels of crude oil per day, accounting for over 50% of its exports. When crude oil futures prices increase, it drives up imports and the demand for dollars, putting pressure on the rupee to depreciate against the dollar. Geopolitical events that disrupt global oil supply can also impact crude oil prices by creating uncertainty about future availability, leading to higher price volatility in the short term due to inelastic supply and demand.
Economy of Oil Price
This document provides a summary of oil price history and trends from 1986 to 2012 based on data from the U.S. Energy Information Administration. It notes that oil prices generally increased over this period, with the exception of a dip in 2008-2009. The document also discusses factors that influence oil prices such as seasonal demand changes, geopolitical events, and increasing demand from developing countries like China and India. Overall, the document analyzes historical oil price data and identifies key economic and geopolitical drivers that have impacted prices over time.
Oil prices and global economy
Crude oil is a naturally occurring hydrocarbon found in rock formations underground. It is formed from the remains of ancient organisms over millions of years. Crude oil is a dark, flammable liquid that can be refined into fuels like gasoline and burned to create energy. The price of crude oil fluctuates based on global supply and demand factors. Technological advances have increased oil production in the US and Canada, leading to oversupply and a drop in prices in recent years. Lower oil prices benefit economies that import oil but hurt export-dependent countries.
Crude oil MARKET
The document summarizes key information about the crude oil market, including that oil is critical to the global economy and accounts for one-third of the world's primary energy supply. It discusses how crude oil prices affect factors like government finances, inflation rates, and the economies of both oil-producing and oil-importing nations. The three main crude oil benchmarks - Dubai, Brent, and WTI - are identified, and supply and demand dynamics that influence crude oil prices are outlined, including the roles of OPEC and non-OPEC producers. India's position as a major crude oil importer is also noted.
Why oil prices failing
Oil prices are falling due to increased global supply outpacing demand, as well as increased production from countries like the US, Libya, and OPEC members refusing to cut production. Lower oil prices benefit economies that are net oil importers, like the US, India, and parts of Europe, but hurt exporters like Russia, Iran, and Venezuela. In India, falling prices reduce subsidy costs for the government, but also lower inflation and transportation costs, benefitting consumers.
DeMis AAPG 2000
This document summarizes a paper presented at the 2000 AAPG National Convention that won best paper award in the Energy Minerals Division. The paper analyzes the historical real global price of oil and its implications for future prices. It argues that analyzing prices using just the US Consumer Price Index does not accurately reflect oil's value on global markets. A better measure is the real global price, which accounts for inflation as well as fluctuations in the US dollar relative to other currencies. When the dollar drops in value, it reduces OPEC countries' purchasing power, sometimes leading them to react with supply cuts or calls to abandon the dollar as the basis for pricing oil in order to stabilize their revenues.
Oil prices falling and Their Impact on World and Indian Economy
The presentations is focused on Reason Behind the Fall in Global Crude Oil Prices.
It also inculcates various Charts and Data which are Up-to-date.
The Basic Reason is to understand the Effect on Global and Indian Economy.
Crude oil
Lower crude oil prices are having widespread effects on the global economy. Prices have fallen 50% in recent months, benefitting oil importing countries but hurting exporters. Key reasons for the drop include low demand, high production from countries like Iraq and the US, and OPEC countries choosing not to cut supply. The fall in costs is leading to lower inflation and potential higher economic output in oil importing nations. However, it poses challenges for alternative energy and could delay investments to reduce dependence on oil. Share markets and some industries are also being negatively impacted by the continued decline in crude prices.
oilprice
While lower oil prices today could benefit consumers, focusing only on the short term can potentially lead to issues in the future. Reducing oil production and projects now may cause supply shortages and price spikes down the road. The document discusses how past oil price volatility has been driven by various economic, political, and psychological factors. It argues that the large drop in prices seen since 2014 could reflect similar underlying demand and supply dynamics to the 2008 price crash, and recovering demand may put upward pressure on prices again over the short term. However, ongoing geopolitical factors could prolong the current period of lower prices.
Crude oil - BLACK GOLD
Crude oil is a naturally occurring fossil fuel that is refined into many consumer products. It is a black, thick liquid called "black gold" due to its economic importance as a non-renewable resource where demand exceeds supply, leading to price increases. An international organization called OPEC controls global oil prices. Rising prices negatively impact economies by increasing inflation, slowing growth, and reducing employment. Alternatives to petroleum such as natural gas, biodiesel, hybrids, and renewable energy can help address these issues.
CRUDE OIL PRICES:WHY ARE THEY FALLING AND ITS IMPACT ON WORLD ECONOMY AND INDIA
PRESENTATION ELABORATE REASON FOR DOWNWARD TREND OF CRUDE OIL PRICES AND HOW IT IMPACT OIL PRODUCING COUNTRIES AND BENEFIT INDIA
Impact of Oil Prices on the Economic Growth of Pakistan
We gathered data from different resources and then finalize our presentation. The intention to upload this file is to help those guys who need some guidelines for preparing presentation. :)
What the drop in oil prices means for the economy and office markets
Lower oil prices will negatively impact energy companies through reduced profit margins and capital spending cuts, leading to potential job losses. However, lower gas prices provide an economic stimulus for consumers and other industries through substantial savings. While energy-focused office markets may see weaker demand from energy companies scaling back, the broader economic benefits of low oil prices and diversifying economies will help offset negative impacts on office fundamentals. The long-term impact on office markets depends on the level of mergers and acquisitions in the energy sector and whether prices remain low, increasing vacant space through consolidation.
Crude oil Falling Prices
The oil industry, with its history of booms and busts, is in its deepest downturn since the 1990s, if not earlier.
Earnings are down for companies that made record profits in recent years, leading them to decommission more than two-thirds of their rigs and sharply cut investment in exploration and production. Scores of companies have gone bankrupt and an estimated 250,000 oil workers have lost their jobs.
The cause is the plunging price of a barrel of oil, which has fallen more than 70 percent since June 2014.
Prices recovered a few times last year, but a barrel of oil has already sunk this year to its lowest level since 2004. Executives think it will be years before oil returns to $90 or $100 a barrel, a price that was pretty much the norm over the last decade.
Brent crude, the main international benchmark, was trading at around $29.64 ( 21st February 2016) a barrel on Saturday.
United States production has surged in recent years as the shale boom took off. That has helped create a glut of oil as major producers like Saudi Arabia continue to pump at high levels.
Reasons for change in crude oil price
This ppt is of subject called Elements of Corporate Finance .
it include the information about the OPEC , reasons , some current information about crude oil and major suppliers of crude oil to india( 2015)
28133150 oil-prices-its-impact
This document discusses the oil price and its impact. It begins by outlining the importance of oil and its many uses. It then discusses the economics of oil supply and demand and how they are inelastic, leading to large price fluctuations. It outlines some major oil price benchmarks and describes key oil producing and consuming countries. The document then analyzes how volatility in oil prices impacts both global and Indian economies. It concludes by discussing India's vision for increasing energy self-sufficiency and alternative energy sources that may play a larger role in the future.
Impact Of Crude Oil Priceing on Indian Economy
This PPT all about how Indian Economy affected due to crude oil Price.
This ppt presented in Viva Institute Of management Studies Virar college
Black gold (crude oil)
Crude oil is a naturally occurring fossil fuel that is an important economic resource. It is extracted through oil drilling and refined into consumer products like gasoline and kerosene. Edwin Drake drilled the first successful oil well in the US in 1859, sparking massive growth in the oil industry worldwide. OPEC was formed in 1960 by major oil exporting countries to coordinate pricing of oil on the global market. High oil prices negatively impact economies by increasing inflation, government spending on subsidies, and costs for businesses and consumers. Alternatives to oil include solar, wind, hydroelectric, and nuclear energy sources.
Crude oil
The document summarizes the recent decline in global crude oil prices from 2014 to 2015. It discusses several key reasons for the price decline, including increased US production, weaker demand from emerging markets, and Saudi Arabia's decision to maintain production levels despite proposals from OPEC members to cut supply. The summary also notes that lower oil prices benefit importers like India through reduced energy costs and trade deficits, but hurt exporters like Russia, Saudi Arabia, and Iran through lower revenues.
Oil crisis
The 1973 oil crisis began when OAPEC proclaimed an oil embargo in response to the US support of Israel. This caused oil prices to rise dramatically from $3 to $12 per barrel. India was heavily impacted as it imports most of its oil and saw effects like deterioration of its balance of payments. Petroleum is used for much more than fuel, and is essential for many everyday products from plastics to solvents. If oil were to run out, daily life would change greatly with less reliance on vehicles, plastics, and global transport since alternate fuels have yet to be widely adopted.
Oil price changes since may 2014
Oil prices have fallen significantly since mid-2014 due to oversupply and decreased demand from China. Key factors driving the price decline include increased US shale production, OPEC's decision to maintain supply, and geopolitical instability in oil producing regions. Lower oil prices benefit oil importing countries through reduced fuel costs and inflation, but harm export revenues and economies of oil producing nations. India benefits from lower subsidy spending and a reduced current account deficit. Alternative energy technologies may replace oil in the future.
SPRE 2017 oil price outlook final
This is the SPRE presentation from four experts on their 2017 oil price outlooks at the October 2016 full-house Society of Petroleum Resources Economists' meeting in Houston. They included Carl Larry (Frost & Sullivan), Raoul LeBlanc (IHS), Afo Ogunnaike (Wood Mackenzie) and Tony Starkey (S&P Global, Platts). The meeting was opened by JC Rovillain (Enhanced Value Recovery) and the panel discussion was moderated by Javan Meinwald (Marketing Upstream). Check out the YouTube video for the compete presentations and the panel discussion. https://www.youtube.com/channel/UC1sXSv6-jXlbBCQwtcB3kUA
Geopolitics in oil and gas market
The document discusses how geopolitics impacts oil and gas markets. It outlines several geopolitical factors, including conflicts in the Persian Gulf region which contains over half of global oil reserves. Military threats, domestic instability, and disputes over Caspian Basin resources all pose risks. Over 90% of Gulf oil exports pass through the Strait of Hormuz, and any closure could drastically increase prices. Wars like the Gulf War and Iraq War led to supply disruptions and price volatility. Geography also influences gas markets due to high transportation costs via pipelines.
Impact of crude oil in India
The document provides an overview of changes in crude oil prices from 1986 to 2018 and the impact on the Indian economy. It discusses fluctuations in prices between 1986 and 2009, with prices generally falling until the mid-2000s due to factors like OPEC production cuts. Prices rose significantly in the late 2000s before collapsing in 2014-2016. More recently prices have been steadily increasing since 2016. The document also examines how rising crude oil prices impact India through higher import bills, inflation, the fiscal deficit, the rupee, and corporate profit margins. Key sectors like energy, transportation, and manufacturing are affected.
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Oil prices and global economy
Crude oil is a naturally occurring hydrocarbon found in rock formations underground. It is formed from the remains of ancient organisms over millions of years. Crude oil is a dark, flammable liquid that can be refined into fuels like gasoline and burned to create energy. The price of crude oil fluctuates based on global supply and demand factors. Technological advances have increased oil production in the US and Canada, leading to oversupply and a drop in prices in recent years. Lower oil prices benefit economies that import oil but hurt export-dependent countries.
Crude oil MARKET
The document summarizes key information about the crude oil market, including that oil is critical to the global economy and accounts for one-third of the world's primary energy supply. It discusses how crude oil prices affect factors like government finances, inflation rates, and the economies of both oil-producing and oil-importing nations. The three main crude oil benchmarks - Dubai, Brent, and WTI - are identified, and supply and demand dynamics that influence crude oil prices are outlined, including the roles of OPEC and non-OPEC producers. India's position as a major crude oil importer is also noted.
Why oil prices failing
Oil prices are falling due to increased global supply outpacing demand, as well as increased production from countries like the US, Libya, and OPEC members refusing to cut production. Lower oil prices benefit economies that are net oil importers, like the US, India, and parts of Europe, but hurt exporters like Russia, Iran, and Venezuela. In India, falling prices reduce subsidy costs for the government, but also lower inflation and transportation costs, benefitting consumers.
DeMis AAPG 2000
This document summarizes a paper presented at the 2000 AAPG National Convention that won best paper award in the Energy Minerals Division. The paper analyzes the historical real global price of oil and its implications for future prices. It argues that analyzing prices using just the US Consumer Price Index does not accurately reflect oil's value on global markets. A better measure is the real global price, which accounts for inflation as well as fluctuations in the US dollar relative to other currencies. When the dollar drops in value, it reduces OPEC countries' purchasing power, sometimes leading them to react with supply cuts or calls to abandon the dollar as the basis for pricing oil in order to stabilize their revenues.
Oil prices falling and Their Impact on World and Indian Economy
The presentations is focused on Reason Behind the Fall in Global Crude Oil Prices.
It also inculcates various Charts and Data which are Up-to-date.
The Basic Reason is to understand the Effect on Global and Indian Economy.
Crude oil
Lower crude oil prices are having widespread effects on the global economy. Prices have fallen 50% in recent months, benefitting oil importing countries but hurting exporters. Key reasons for the drop include low demand, high production from countries like Iraq and the US, and OPEC countries choosing not to cut supply. The fall in costs is leading to lower inflation and potential higher economic output in oil importing nations. However, it poses challenges for alternative energy and could delay investments to reduce dependence on oil. Share markets and some industries are also being negatively impacted by the continued decline in crude prices.
oilprice
While lower oil prices today could benefit consumers, focusing only on the short term can potentially lead to issues in the future. Reducing oil production and projects now may cause supply shortages and price spikes down the road. The document discusses how past oil price volatility has been driven by various economic, political, and psychological factors. It argues that the large drop in prices seen since 2014 could reflect similar underlying demand and supply dynamics to the 2008 price crash, and recovering demand may put upward pressure on prices again over the short term. However, ongoing geopolitical factors could prolong the current period of lower prices.
Crude oil - BLACK GOLD
Crude oil is a naturally occurring fossil fuel that is refined into many consumer products. It is a black, thick liquid called "black gold" due to its economic importance as a non-renewable resource where demand exceeds supply, leading to price increases. An international organization called OPEC controls global oil prices. Rising prices negatively impact economies by increasing inflation, slowing growth, and reducing employment. Alternatives to petroleum such as natural gas, biodiesel, hybrids, and renewable energy can help address these issues.
CRUDE OIL PRICES:WHY ARE THEY FALLING AND ITS IMPACT ON WORLD ECONOMY AND INDIA
PRESENTATION ELABORATE REASON FOR DOWNWARD TREND OF CRUDE OIL PRICES AND HOW IT IMPACT OIL PRODUCING COUNTRIES AND BENEFIT INDIA
Impact of Oil Prices on the Economic Growth of Pakistan
We gathered data from different resources and then finalize our presentation. The intention to upload this file is to help those guys who need some guidelines for preparing presentation. :)
What the drop in oil prices means for the economy and office markets
Lower oil prices will negatively impact energy companies through reduced profit margins and capital spending cuts, leading to potential job losses. However, lower gas prices provide an economic stimulus for consumers and other industries through substantial savings. While energy-focused office markets may see weaker demand from energy companies scaling back, the broader economic benefits of low oil prices and diversifying economies will help offset negative impacts on office fundamentals. The long-term impact on office markets depends on the level of mergers and acquisitions in the energy sector and whether prices remain low, increasing vacant space through consolidation.
Crude oil Falling Prices
The oil industry, with its history of booms and busts, is in its deepest downturn since the 1990s, if not earlier.
Earnings are down for companies that made record profits in recent years, leading them to decommission more than two-thirds of their rigs and sharply cut investment in exploration and production. Scores of companies have gone bankrupt and an estimated 250,000 oil workers have lost their jobs.
The cause is the plunging price of a barrel of oil, which has fallen more than 70 percent since June 2014.
Prices recovered a few times last year, but a barrel of oil has already sunk this year to its lowest level since 2004. Executives think it will be years before oil returns to $90 or $100 a barrel, a price that was pretty much the norm over the last decade.
Brent crude, the main international benchmark, was trading at around $29.64 ( 21st February 2016) a barrel on Saturday.
United States production has surged in recent years as the shale boom took off. That has helped create a glut of oil as major producers like Saudi Arabia continue to pump at high levels.
Reasons for change in crude oil price
This ppt is of subject called Elements of Corporate Finance .
it include the information about the OPEC , reasons , some current information about crude oil and major suppliers of crude oil to india( 2015)
28133150 oil-prices-its-impact
This document discusses the oil price and its impact. It begins by outlining the importance of oil and its many uses. It then discusses the economics of oil supply and demand and how they are inelastic, leading to large price fluctuations. It outlines some major oil price benchmarks and describes key oil producing and consuming countries. The document then analyzes how volatility in oil prices impacts both global and Indian economies. It concludes by discussing India's vision for increasing energy self-sufficiency and alternative energy sources that may play a larger role in the future.
Impact Of Crude Oil Priceing on Indian Economy
This PPT all about how Indian Economy affected due to crude oil Price.
This ppt presented in Viva Institute Of management Studies Virar college
Black gold (crude oil)
Crude oil is a naturally occurring fossil fuel that is an important economic resource. It is extracted through oil drilling and refined into consumer products like gasoline and kerosene. Edwin Drake drilled the first successful oil well in the US in 1859, sparking massive growth in the oil industry worldwide. OPEC was formed in 1960 by major oil exporting countries to coordinate pricing of oil on the global market. High oil prices negatively impact economies by increasing inflation, government spending on subsidies, and costs for businesses and consumers. Alternatives to oil include solar, wind, hydroelectric, and nuclear energy sources.
Crude oil
The document summarizes the recent decline in global crude oil prices from 2014 to 2015. It discusses several key reasons for the price decline, including increased US production, weaker demand from emerging markets, and Saudi Arabia's decision to maintain production levels despite proposals from OPEC members to cut supply. The summary also notes that lower oil prices benefit importers like India through reduced energy costs and trade deficits, but hurt exporters like Russia, Saudi Arabia, and Iran through lower revenues.
Oil crisis
The 1973 oil crisis began when OAPEC proclaimed an oil embargo in response to the US support of Israel. This caused oil prices to rise dramatically from $3 to $12 per barrel. India was heavily impacted as it imports most of its oil and saw effects like deterioration of its balance of payments. Petroleum is used for much more than fuel, and is essential for many everyday products from plastics to solvents. If oil were to run out, daily life would change greatly with less reliance on vehicles, plastics, and global transport since alternate fuels have yet to be widely adopted.
Oil price changes since may 2014
Oil prices have fallen significantly since mid-2014 due to oversupply and decreased demand from China. Key factors driving the price decline include increased US shale production, OPEC's decision to maintain supply, and geopolitical instability in oil producing regions. Lower oil prices benefit oil importing countries through reduced fuel costs and inflation, but harm export revenues and economies of oil producing nations. India benefits from lower subsidy spending and a reduced current account deficit. Alternative energy technologies may replace oil in the future.
SPRE 2017 oil price outlook final
This is the SPRE presentation from four experts on their 2017 oil price outlooks at the October 2016 full-house Society of Petroleum Resources Economists' meeting in Houston. They included Carl Larry (Frost & Sullivan), Raoul LeBlanc (IHS), Afo Ogunnaike (Wood Mackenzie) and Tony Starkey (S&P Global, Platts). The meeting was opened by JC Rovillain (Enhanced Value Recovery) and the panel discussion was moderated by Javan Meinwald (Marketing Upstream). Check out the YouTube video for the compete presentations and the panel discussion. https://www.youtube.com/channel/UC1sXSv6-jXlbBCQwtcB3kUA
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Impact of Oil Prices on the Economic Growth of Pakistan
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Similar to Crude Oil and it’s price history
Geopolitics in oil and gas market
The document discusses how geopolitics impacts oil and gas markets. It outlines several geopolitical factors, including conflicts in the Persian Gulf region which contains over half of global oil reserves. Military threats, domestic instability, and disputes over Caspian Basin resources all pose risks. Over 90% of Gulf oil exports pass through the Strait of Hormuz, and any closure could drastically increase prices. Wars like the Gulf War and Iraq War led to supply disruptions and price volatility. Geography also influences gas markets due to high transportation costs via pipelines.
Impact of crude oil in India
The document provides an overview of changes in crude oil prices from 1986 to 2018 and the impact on the Indian economy. It discusses fluctuations in prices between 1986 and 2009, with prices generally falling until the mid-2000s due to factors like OPEC production cuts. Prices rose significantly in the late 2000s before collapsing in 2014-2016. More recently prices have been steadily increasing since 2016. The document also examines how rising crude oil prices impact India through higher import bills, inflation, the fiscal deficit, the rupee, and corporate profit margins. Key sectors like energy, transportation, and manufacturing are affected.
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Crude Oil Price Research
This undergraduate report analyzes the effects of changes in oil supply on crude oil prices. The author conducts a literature review on how factors like oil production, market share of producers, reserves and inventories, extraction capability, and income influence prices. A regression model is developed to test the relationship between quarterly WTI and Brent oil prices from 1990 to 2016 with variables for US and OPEC production, market shares, US inventory levels, oil rig counts, and US GDP per capita. The author aims to predict future oil price movements based on supply conditions.
Understanding the Major Happenings in the Oil Market. A slippery path!
Looks at the factors that affect the demand and supply of Oil globally; understands the functioning of OPEC, and the different oil benchmarks: crude, opec basket, west texas and dubai. Understands the reasons of the major happenings such as 1973 supply shock, 1979 energy crisis, 1980s oil glut, 1990s energy crisis and the current falling price of oil.
Oil majors and traders role of opec,ocimf & intertanko
The document discusses several topics related to the oil and gas industry including:
- Big Oil refers to the world's largest publicly traded oil and gas companies, also known as supermajors, which include BP, Chevron, Eni, ExxonMobil, Royal Dutch Shell, Total, and ConocoPhillips.
- OPEC is an intergovernmental organization made up of 13 oil producing countries that aims to coordinate oil policies and ensure stability in the oil market. Major OPEC members include Saudi Arabia, Iran, Iraq, Kuwait, and Venezuela.
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Oil has highly inelastic demand and supply curves in the short run. This means that any shifts in demand or supply will result in large price changes, as quantities demanded and supplied do not respond much to price changes in the short run. The article uses supply and demand graphs to illustrate how oil price increases in the 1970s resulted from OPEC restricting supply, as demand was inelastic. While high prices cause short term pain, in the long run they encourage fuel efficiency, alternative energy sources, and increased exploration and supply. The article argues for letting market forces, not price controls, determine oil prices over time.
Are fundamentals the main drivers of the Oil Price
1. The document examines whether fundamentals or speculation were the main drivers of crude oil price volatility between 2001-2009. It discusses research showing that both demand factors like increased consumption in China and speculation may have contributed to price shocks during this period, though fundamentals like demand growth still played a central role.
2. Supply factors are found to have little impact on volatility according to studies. While demand grew strongly in the 2000s, especially from China, there is evidence speculation also played a role in 2008 price spikes through positive feedback trading that drove prices above fundamentals.
3. However, it is difficult to separate the effects of fundamentals from speculation. While speculation may have joint effects with demand, fundamentals
Overview Of The Structure And Trends In The Global Petroleum Industry
The oil and gas industry has undergone major global structural changes in recent decades. Major oil and gas producers include OPEC countries in the Middle East and Africa, while the US and other developed countries are the largest consumers. Future production is expected to increasingly come from countries like Saudi Arabia, Venezuela, Iran and Iraq as non-OPEC supplies decline. National oil companies now play a larger role alongside private companies and competition for resources has grown internationally.
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Oil prices have historically played a central role in US recessions. The document analyzes historical oil price data and identifies three rules to avoid recession: 1) oil expenditures should not exceed 4% of GDP, 2) oil prices should not increase over 50% year-over-year, and 3) annual oil demand reductions should not exceed 0.8% of GDP. The document then evaluates three policy approaches - prioritizing climate change, balancing climate and economic concerns, or prioritizing economic stability - in light of the identified rules and volatility in oil markets.
Oil: what price can america afford before recession
Oil prices have historically played a central role in recessions in the US economy. Three rules are identified from the historical record: 1) crude oil expenditures should not exceed 4% of GDP, 2) oil prices should not increase by more than 50% year-over-year, and 3) oil price increases should not require more than a 0.8% annual adjustment in oil consumption as a share of GDP to avoid recession. The document discusses three approaches to energy policy based on these rules - prioritizing climate change, balancing climate and economic concerns, or prioritizing economic stability.
The Falling of Oil Price
The document discusses the recent drop in global oil prices and its effects. It analyzes factors contributing to the price drop in 2014 such as slower growth in China and India, increased oil exports from countries like Canada and Iraq, and expanded US production through fracking. Countries like Russia, Venezuela, and Iran are among the "losers" as they rely heavily on oil exports. Saudi Arabia aims to keep production high to further lower prices and hurt competitors. However, Saudi Arabia is less vulnerable through its large financial reserves and plans to diversify its economy away from oil dependence by 2030.
Eco ppt 2
This document summarizes a report on the decreament in oil prices. It lists 6 group members who authored the report and outlines the contents which include introductions to oil usage and price variation, causes and effects of price changes on human life, and the impacts of decreasing prices. It also discusses factors like supply and demand that influence price as well as how lower prices positively impact oil consumers but negatively affect oil exporting countries.
Ambrogi - Thesis
This document discusses the macroeconomic effects of oil price shocks over time. It analyzes how oil price shocks propagate through different channels in the economy to impact output growth and inflation. While large oil price increases in the 1970s were followed by recessions and high inflation, more recent shocks have had weaker effects. This may be due to structural changes like decreased oil consumption, weaker wage indexation, and higher central bank credibility. The nature of the shock also matters - supply disruptions have had larger macroeconomic impacts than demand-driven shocks. The relationship between oil prices and stock returns is also examined.
Copy of OPEC-oil-prices[2]
The document discusses OPEC's role as a monopoly in the global oil market and how it can influence prices. It outlines factors like increased winter demand, supply disruptions, and OPEC's decision to increase production by 800,000 barrels per day to lower prices. However, this small increase is unlikely to significantly impact prices given total world consumption growth. The US oil industry has consolidated since the 1970s, making companies larger and better able to compete with OPEC. Alternative energy sources may eventually replace oil but have not been fully developed yet.
Opec - Organization of Petroleum Exporting Countries.
The Organization of the Petroleum Exporting Countries (OPEC) is a permanent, intergovernmental Organization, was established in Baghdad.
OPEC comprised 12 members: Algeria, Angola, Ecuador, Iran, Iraq Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates Venezuela.
Petrodollar is a United State dollar earned by the country through the sale of petroleum.
Shale oil is an unconventional oil produced from oil shale rock fragments by pyrolysis, hydrogenation, or thermal dissolution. These processes convert the organic matter within the rock into synthetic oil & gas.
OPEC Share of World Crude Oil Reserves - According to current estimates, more than 81% of the world's proven oil reserves are located in OPEC Member Countries, with the bulk of OPEC oil reserves in the Middle East, amounting to 66% of the OPEC total.
80% of the world's oil reserves are located in just 13 countries which make up OPEC (the Organization of the Petroleum Exporting Countries). Algeria, Venezuela, Saudi Arabia, Iran, Iraq, Kuwait, Angola, Indonesia, Ecuador, Libya, Nigeria, Qatar, and the United Arab Emirates.
TermProject
This document summarizes a research paper that analyzes how economic data and changes impact microstructural parameters like liquidity costs, volatility, and trading volume in crude oil futures markets. It provides context about economic and political events from 2014-2015 that affected crude oil prices. It then outlines the author's methodology, which uses microstructural models to estimate parameters from high-frequency futures market data and classify days as having significant economic news or not. The results found economic conditions do immediately impact microstructure parameters.
Petroleum politics
The document discusses the history of petroleum politics and the formation of OPEC. It notes that the Achnacarry Agreements established price control in the 1930s in response to an oil boom. OPEC was formed in 1960 by Venezuela, Iran, Iraq, Saudi Arabia and Kuwait to give producing countries more control over oil incomes. Through production quotas and cooperation, OPEC gained the ability to control oil prices in the 1970s. The oil shocks of 1973 and 1979 demonstrated this power and increased prices. However, OPEC lost influence in the 1980s due to new producers and internal conflicts.
COMMODITIES.pptx
The document discusses the history of crude oil prices. It notes that oil prices were relatively stable in the 20th century until political and economic turmoil in the 1970s led to greater volatility. The COVID-19 pandemic in 2020 caused prices to plummet, while the Russia-Ukraine conflict in 2022 drove prices to record highs. The document provides some key crude oil price points over time and lists several major events that impacted historical price movements, such as financial crises, natural disasters, geopolitical conflicts, and decisions by OPEC.
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Understanding the Major Happenings in the Oil Market. A slippery path!
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Oil majors and traders role of opec,ocimf & intertanko
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Oil : what price can america afford before recession ?
Oil : what price can america afford before recession ?
Oil: what price can america afford before recession
Oil: what price can america afford before recession
Opec - Organization of Petroleum Exporting Countries.
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Crude Oil and it’s price history
- 1. Crude Oil and it’s price history by 1
- 2. Indices are the mediums through which the buyers and sellers conduct trading of crude oil. Some of the well known crude oil indices are Brent, West Texas Intermediate, Dubai Crude, OPEC reference basket etc. Price of the oil refers to the spot price of one barrel of crude oil in various indices such as WTI, Brent, Dubai Crude etc. Contact Corporate Munim for Oil & Gas ERP 2
- 3. But of all these there are several other political, economical factors which have affected the supply and demand of crude oil which has thereby resulted in drastic fluctuations in their price. Price of crude is determined by various factors such as it’s specific gravity, it’s sulphur content, it’s location etc. 3 Contact corporate Munim for Healthcare ERP
- 4. So let us examine the history of price fluctuations of crude oil. Rising demand for crude oil in developing countries such as India and China have resulted in significant price rise of oil. The decade of 1998-2008 saw a steep rise in the oil prices. 4 Contact Corporate Munim for Pharmaceutical ERP
- 5. 2008 • By mid of year 2008,precisely July 2008 the oil prices had reached 145 $ /barrel 5 Contact Corporate Munim for Textile ERP
- 6. 2008 • By mid of year 2008,precisely July 2008 the oil prices had reached 145 $ /barrel • But then the Global Financial crisis led to severe decrease in the demand for crude oil which eventually caused a sharp fall in the price of crude oil. 6 Contact Corporate Munim for Engineering ERP
- 7. 2009 • By February 2009 the prices sank below 40 $ /barrel. 7 Contact Corporate Munim for Dyes & Chemicals ERP
- 8. 2011 • Again by 2011 due to political unrest in Egypt which led to decrease in the oil production the crude oil prices rose sharply. • For about 3.5 years the prices of oil remained largely in the range of 90-120$ per barrel. 8 Contact Corporate Munim for Ceramics ERP
- 9. 2014 • By 2014 US started producing oil from it’s own oil fields resulting in sharp increase in the oil output thereby bringing down the oil prices to below 30 $ per barrel. 9 Contact Corporate Munim for Plastics ERP
- 10. One major oil price fluctuation was in the year 1973 Reason :- Arab oil embargo Embargo means restrictions imposed on a particular country on trade and exchange of goods. This resulted in severe shortage of oil in 1973 resulting in sharp increase in the oil prices. 10 Contact Corporate Munim for Metal & Mining ERP
- 11. Wars also result in sharp fluctuations of oil prices. • Year 1951 -1953 ,Korean war oil prices rose from 17 $ to 20 $ per barrel • Year 1950-1970, Vietnam War oil prices declined to 20 $ per barrel. • Year 1990, Gulf war oil prices sky rocketed to 65 $ per barrel. 11 Contact Corporate Munim for Oil & Gas ERP
- 12. According to a very recent report by Deloitte a global audit and consulting firm if the current oil prices were to sustain for some more time 35 % of listed oil and gas exploration companies face the risk of bankruptcy. 12
- 13. Timeline InfoGraphic on Crude Oil and it’s price history 13 Contact Corporate Munim for Oil & Gas ERP