Abstract
This paper describes a new model of the world oil market for Project LINK that integrates the effect of changes in the economic, geological and political environment. The model forecasts non-OPEC oil production using a new technique that quantifies the effect of geological, economic and political variables. The model forecasts real oil prices based on changes in market conditions and OPEC behaviour. Scenarios indicate that OPEC can influence the price for oil over the medium and long term by adjusting the rate at which it adds capacity. On the other hand, OPEC will find it difficult to influence oil prices by shutting in operable capacity.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
