It is often argued informally that demand responses to the major oil price increases of 1973 and 1979 were still not complete several years after the events. The evidence, moreover, is that the long-run price elasticity of demand exceeds the short-run price elasticity, both for energy aggregates and individual energy carriers (see Kouris, 1983, for […]
The recent history of the informal market f o r North Sea Brent blend has been of great interest to those studying commodity markets in general and the oil market in particular . Two aspects of this market gives it this important position. First, the very rapid growth inactivity in the Brent market means that […]
Our purpose in writing this paper is to relax two assumptions which dominate the theory of exhaustible resources and examine the implications for the stability of equilibrium. The first assumption postulates that a complete set of forward markets exists. The second postulates that asset and spot commodity markets clear instantaneously.
OIES study on Russia’s refining system reviewed: Plans for further additions of more complex refining units have be… https://t.co/GTmB7XB5g0
New OIES paper on Russian refining sector and fuel oil exports: From 2015, as a result of new export tax policies,… https://t.co/2OFbXIbbUX
Russia’s heavy fuel oil exports: challenges and changing rules at home and abroad https://t.co/cDMQaw7xP9