En ekonometrisk studie av den global oljemarknaden med fokus på utbud och efterfrågan
Independent thesis Advanced level (professional degree), 20 credits / 30 HE creditsStudent thesis
This essay is an econometric study of the global oil market. The aim of the study is to identify important factors and what impact they have on the supply and demand of crude oil. This analysis divides the supply of crude oil into two components. One model describes the supply from OPEC, while the other defines the production outside OPEC. This essay concludes that OPEC is a stronger cartel today than during the 1970s. The cartel has a profit maximization behavior and produces from the residual demand curve. In this study the supply models, the demand model and a price model are estimated by regression analysis. The results imply that the demand is determined by GDP and that the price model, in contrast to prior research, lacks significant factors.
Place, publisher, year, edition, pages
2012. , 88 p.
Social Behaviour Law
Samhälls-, beteendevetenskap, juridik, Olja, ekonometri, regressionsanalys, OPEC
IdentifiersURN: urn:nbn:se:ltu:diva-55637Local ID: c7a97cb6-d1d2-426a-aa9a-0e9b37fab893OAI: oai:DiVA.org:ltu-55637DiVA: diva2:1029021
Subject / course
Student thesis, at least 30 credits
Business and Economics, master's level
Validerat; 20121120 (global_studentproject_submitter)2016-10-042016-10-04Bibliographically approved