Crude oil price differentials, product heterogeneity and institutional arrangements

Monica Giulietti, Ana María Iregui, Jesús Otero

Producción científica: Contribución a una revistaArtículo de Investigaciónrevisión exhaustiva

10 Citas (Scopus)

Resumen

We adopt time-series and cross-section methods to analyse long-term relationships between pairs of crude oil prices and assess how physical and institutional factors affect their speed of reaction to exogenous shocks. Using a methodological approach which does not require identifying specific crudes as benchmarks, we show that the overwhelming majority of prices have stable long term relationships. We also find that crudes with physical similarity converge quickly after a shock, while prices for oil produced in OPEC countries are relatively slow to revert to equilibrium after a shock.

Idioma originalInglés estadounidense
Páginas (desde-hasta)S28-S32
PublicaciónEnergy Economics
Volumen46
N.ºS1
DOI
EstadoPublicada - dic. 1 2014

Áreas temáticas de ASJC Scopus

  • Economía y econometría
  • Energía General

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