scholarly journals Transitory and Permanent Shocks in the Global Market for Crude Oil †

2021 ◽  
Author(s):  
Nooman Rebei ◽  
Rashid Sbia
Keyword(s):  
Crude Oil ◽  
Global Market ◽  
Permanent Shocks

scholarly journals Transitory and Permanent Shocks in the Global Market for Crude Oil

2020 ◽  
Vol 2020 (047) ◽  
pp. 1
Author(s):  
Nooman Rebei ◽  
Rashid Sbia
Keyword(s):  
Crude Oil ◽  
Global Market ◽  
Permanent Shocks

scholarly journals Cointegration of Macroeconomics Variables and Dow Jones Industrial Average Index on the Composite Stock Price Index In 2015-2019

2021 ◽  
Vol 2 (3) ◽  
pp. 178-191
Author(s):  
Frisca Novia Sukmawati ◽  
Nadia Asandimitra Haryono
Keyword(s):  
Crude Oil ◽  
Interest Rates ◽  
Stock Price ◽  
Negative Relationship ◽  
Global Market ◽  
Short Term ◽  
Continuous Increase ◽  
Dow Jones Industrial Average ◽  
Cointegration Relationship ◽  
Average Index

This research examines the cointegration of macroeconomic variables and the Dow Jones Industrial Average Index toward IHSG. The Sampling data used is non probability sampling techniques by using historical monthly data from January 2015 to December 2019. The method used in this study are Augmented Dickey-Fuller Test for stationarity test, Johansen Test for Cointegration, and Error Correction Model for short-term relationships with eviews 10. The findings showed that DJIA Index not cointegrated with IHSG because investors are more responsive to global market and domestic sentiment. Exchange rates not cointegrated with the IHSG because exchange rate and IHSG movements do not always had a negative relationship. Interest rates are not cointegrated with IHSG because most of the sectors in the IDX affected by external sentiment than interest rates. Meanwhile, inflation have a cointegration relationship but does not have a short-term relationship with IHSG because inflation is generally known as a continuous increase in the price of goods as a whole. Crude oil have a cointegration relationship but does not have a short-term relationship with IHDG, which implies that an increase or decrease in crude oil in the short term can not affect IHSG.

Kuwait energy sector expansion will hit obstacles

2015 ◽  
Keyword(s):  
Saudi Arabia ◽  
Natural Gas ◽  
Crude Oil ◽  
Production Capacity ◽  
Oil Prices ◽  
Energy Sector ◽  
Global Market ◽  
Oil Refinery ◽  
Content Type ◽  
Crude Oil Production

Subject Prospects for Kuwait's energy sector expansion Significance Despite falling revenue because of the slump in global oil prices Kuwait is embarking on two ambitious energy ventures: constructing what will be the region's largest new oil refinery and increasing crude oil production capacity by more than 1 million barrels per day (b/d) by 2020. Impacts Increased oil output capacity will bolster Kuwait' s effort to retain market share in an over-supplied global market. Kuwait is emulating Saudi Arabia in integrating its refining and petrochemical sectors, though diversification will lag. Kuwait will incur Saudi displeasure by developing closer ties with post-sanctions Iran, a possible supplier of new natural gas supplies.

Comparative study of the physical and chemical properties of the crude oil mixture of the El-Wafa field in practically and through the use of an advanced program [Aspen HYSYS]

2018 ◽  
Vol 2 (1) ◽  
Author(s):  
Hazim Mohammed Al-Jewaree
Keyword(s):  
Comparative Study ◽  
Physical Properties ◽  
Crude Oil ◽  
Research Effort ◽  
Salt Content ◽  
Chemical Properties ◽  
Global Market ◽  
Lubricating Oil ◽  
Volume Percentage ◽  
Aspen Hysys

 The accuracy in measuring the physical properties of any crude oil has become a very difficult task because the price of crude oil in the global market depends on it in addition to the process of producing lubricating oil , chemical products and refinery. Accordingly, this research effort focuses on comparative study of Libyan crude oil (El-Wafa field)  by measuring the physical and some chemical  properties  experimentally and by Aspen HYSYS V8.4 programs. Also, test the possibility to know the volume percentage of the production of lubricants from this crude oil by the two methods mentioned above.Test carried out on these measurements practically and theoretically the physical properties are include: normal boiling point, pour point, Specific gravity (Sp. gr.), standard density (API), dynamic viscosity , kinematics viscosity , molecular weight, Acentric factor and Watson factor (K or Kw ). Some chemical properties have also been experimentally measured, for example the sulphur content ( wt.%), Asphaltenes content( wt.%)  , water and sediment content (vol.%), Conradson carbon residue ( wt.%) , salt content (as NaCl, mg\L),  ash content(wt. %) and metals content ( wt.%).The results from the tests showed that, there is a very small convergence between the results of calculations of physical properties by use this modern software with experimental measurements in the lab to the crude oil of El-Wafal field up to 99% and this blend is not suitable for production the lubricated oil at atmospheric distillation column. Also, the results observed that’s the useful mole percentage of lubricated oil cutoff has volume percentage range not significant from 1 to 1.8% for this type of Libyan crude oil. Through practical and theoretical results possible to classify this type of crude oil as Brent mix according to the global market for the sale of crude oil, which is characterized by its lack of sulfur element and metals in addition to its standard relative density API is very high more than 55.  

World Leading Commercial Banks in Crude Oil Derivatives Market

2015 ◽  
pp. 69-79
Author(s):  
A. Maslennikov
Keyword(s):  
European Union ◽  
Crude Oil ◽  
Commercial Banks ◽  
Global Market ◽  
Futures Contracts ◽  
Oil Futures ◽  
Oil Derivatives ◽  
The Usa ◽  
Crude Oil Futures ◽  
Commodity Derivatives

The article examines recent developments in the global market for crude oil futures contracts. Amid persistently high trading volume of futures contracts for Brent and WTI global oil benchmarks structure of the market has recently changed profoundly. Share of non-commercial investors who are not directly linked to physical oil operations and are often considered speculators in the trade turnover of futures contracts for WTI at the NYMEX exchange has exceeded 50%. Financial investors play a prominent role in price discovery process for crude oil. However, world leading commercial banks that used to be the major participants in crude oil futures market and were also actively engaged into physical oil trading operations presently are forced to adjust their strategies responding to the regulatory reforms unleashed in the USA and European Union after the global financial crisis of 2008/2009. Provisions of Dodd-Frank Act in the USA and similar regulations in the European Union member countries aim to limit banks’ involvement in commodity derivatives market exclusively to hedging activities referred to swap transactions between banks and their clients. New tighter regulation substantially increases costs of commodity derivatives’ business for commercial banks. Also, the current US legislation prohibits banks from proprietary trading with derivatives instruments. These legislative innovations could substantially reduce banks’ profits. The largest global commercial banks have already reduced their physical commodity trading activities. The author concludes that while it is still unclear how significant the retreat of banks from crude oil derivatives market will be, the established mechanism of oil price setting is unlikely to change dramatically as new players from the financial sector are entering the market, replacing commercial banks.

scholarly journals Competition in a Wholesale Fuel Market—The Impact of the Structural Changes Caused by COVID-19

Energies ◽  
2021 ◽  
Vol 14 (14) ◽  
pp. 4211
Author(s):  
Sylwester Bejger
Keyword(s):  
Crude Oil ◽  
Structural Changes ◽  
Consumer Surplus ◽  
Global Market ◽  
Liquid Fuels ◽  
Wholesale Market ◽  
Potential Market ◽  
Before And After ◽  
Energy Products ◽  
The Impact

Liquid fuels obtained in refining crude oil are one of the most important energies in economic activity. The domestic wholesale market for liquid fuels is of decisive importance for price formation in the national economy. The noncompetitive behavior of the market players at this level of the distribution chain can significantly affect all downstream price levels and the producer–consumer surplus balance. Therefore, the competitiveness of this market should be screened and assessed regularly, especially when significant external factors change. This article attempts to evaluate the impact of structural changes on the global market of crude oil and energy products after the outbreak of the COVID-19 pandemic on the competitiveness of the wholesale fuel market in Poland. Using asymmetry of the reaction of product prices to changes in the prices of inputs as a marker of noncompetitive behavior and the NARDL model as a test specification, the price paths of market players before and after the occurrence of structural changes in the inputs’ processes were examined. Significant changes in the competitive behavior of players were revealed after the occurrence of structural changes at the beginning of the pandemic period in the year 2020. These changes may indicate enhanced competition and mitigation of potential market power abuse.

scholarly journals The external sector shocks and macroeconomics in Nigeria

2021 ◽  
Vol 09 (02) ◽  
Author(s):  
Ohiomoje Iyemifokhae Abubakar ◽  
Keyword(s):  
Gross Domestic Product ◽  
Central Bank ◽  
Crude Oil ◽  
Oil And Gas Industry ◽  
Global Market ◽  
Terms Of Trade ◽  
Domestic Product ◽  
Product Price ◽  
External Sector ◽  
The Impact

The study examines the relationship between some key macroeconomic indicators in Nigeria and the external sector. During the period under review, it was discovered that crude oil had a lion’s share of Nigeria’s export earnings and the international demand for the country’s non-oil exports was unimpressive due to the development of synthetic alternatives, discriminative tariffs and new entrants in the global market (Central Bank of Nigeria, 2008). Consequently, most of the research on this topic hinged their framework on shocks from the oil sector (see Lukman and Olomola, 2016). In contemporary times, however, the contribution of crude oil to Nigeria’s gross domestic product has been dwindling. As at 2019, the entire oil and gas industry contributed less than 10% of Nigeria’s gross domestic product (Central Bank of Nigeria (CBN), 2019). There was the need to examine the external sector from a more comprehensive approach and framework. Therefore, this study evaluated the impact of shocks from Nigeria’s terms of trade and major foreign stock market index on macroeconomics in Nigeria. The methodology adopted for this study is the vector autoregressive technique, impulse response function and the error variance decomposition method. The findings show that the gross domestic product, price level and interest rate respond strongly in the short run (1-2 years), gradually fluctuates in the medium term (3-5 years) and become stable in the long run (6-10 years) due to shocks from the Dow Jones index and Nigeria’s terms of trade. Thus, intervention policies should focus on mitigating the impact of external sector shocks on macroeconomics in the short and medium terms when the impact is enormous.

Sign in / Sign up

Export Citation Format

Share Document