Arbeitspapier
Crude Oil Price Fluctuations and Saudi Arabian Behaviour
Kieler Arbeitspapiere, 1014
Autoren
Erscheinungsdatum
JEL Classification
D58
F13
Q40
Schlagworte
This study seeks to explain why crude oil prices fluctuate, the main cause being the quota regime, which characterises the OPEC agreements. Given that the Saudi oil supply is inelastic in the short term, a shock in the oil market is accommodated by an imm