The Collapse in Oil Markets from Mid-2014 Onwards – Economics or Policy

Valentin Bilyanski

Economic Studies journal, 2017, issue 4, 108-128

Abstract: This article examines the main reasons for the collapse of oil prices from mid-2014 onwards. The main purpose of the author is to determine whether the processes on the crude oil markets are dictated primarily by objective economic circumstances or lead mainly by different geopolitical interests.The results are rather in support of the first claim – the collapse in prices is caused by oversupply, expectations for an economic slowdown in emerging economies and the refusal of the members of the Organization of Petroleum Exporting Countries (OPEC) to continue to use production quotas as a price regulation tool. At the same time the pursuit of geopolitical interests of countries like the US and Saudi Arabia should not be ignored, but it is rather a secondary, reaction to the current market situation.

JEL-codes: F12 F14 Q02 (search for similar items in EconPapers)
Date: 2017
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.ceeol.com/search/article-detail?id=608687

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bas:econst:y:2017:i:4:p:108-128

Access Statistics for this article

More articles in Economic Studies journal from Bulgarian Academy of Sciences - Economic Research Institute Contact information at EDIRC.
Bibliographic data for series maintained by Diana Dimitrova ().