Tag: Oil Shocks

  • What to Make of Saudi Arabia’s Recent Shift in its Output Policy?

    By: Bassam Fattouh , Andreas Economou

    After a sharp rise in April/May this year, which saw Brent trading at above $80/barrel for several days, the upward pressure on the oil price eased in July with the Brent structure flipping into contango. This may have come as a surprise to many analysts who were expecting oil prices to continue on their upward […]

  • The Phases of Saudi Oil Policy: What Next?

    By: Bassam Fattouh

    This presentation delivered at the Department of Business, Energy & Industrial Strategy (BEIS) analyses the main factors shaping Saudi oil policy and the various phases of the Kingdom’s oil policy since the 2008 financial crisis. It is possible to identify four such phases: 1) In the aftermath of the 2008 financial crisis, Saudi Arabia decided to cut output in the face of a temporary demand shock […]

  • Why do Oil Shocks no Longer Shock?

    By: Paul Segal

    Oil prices and economic cycles have been firmly linked in the public imagination since the oil shocks of the 1970s, and the global recessions that followed. Spurred by these events, economists in the 1980s analysed the relationship in a number of econometric studies, demonstrating a negative correlation in the US and other industrial countries between […]

  • A Dialogue Between Oil Producers and Consumers: The Why and the How

    By: Robert Mabro

    The notion that a dialogue, leading to co-operation between oil-producing and oil consuming countries, may either avert oil shocks and excessive price instability or, at least, mitigate their adverse effects emerged early on in the 1970s. The very few observers who predicted the 1973 oil shock a year or two before its occurrence also sensed […]

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