The economics of the oil industry have shifted. Outdated supply and demand curves no longer suffice. The US shale revolution has had a profound impact on the oil industry. Whereas before supply was rather inelastic, as the cost of temporarily closing a major oil field was enormous, oil supply now adjusts more rapidly to changes in demand.
Contents
- WTI and Brent Oil Prices
- Brent-WTI Price Spread
- Crude Oil Futures Curve
- Stock Market Performance of Oil Companies
- Oil Price Analyst Forecasts
- Global Oil Demand
- Breakdown of Global Oil Demand by Region
- Breakdown of Global Oil Demand by Country
- Oil Demand in the US
- Global Oil Supply
- Changes in Oil Stocks
- Breakdown of Oil Supply
- Breakdown of (US) Shale Oil
Author
- Olav Dirkmaat
Olav Dirkmaat is professor in economics at the Business School of Universidad Francisco Marroquín. Before, he was VP at Nxchange and precious metals analyst at GoldRepublic. He is also a PhD candidate in Economics at the Rey Juan Carlos University in Madrid. He has a master in Austrian Economics from the same university, as well as a master in Marketing from the VU University in Amsterdam. He is also the translator of Human Action of Ludwig von Mises into Dutch. He has a passion for investing, and manages funds for relatives, looking for investment opportunities in markets that are extremely over- or undervalued.
