Trading and price discovery for crude oils : growth and development of international oil markets / / Adi Imsirovic

• Autore: Imsirovic Adi
• Pubblicazione: Cham, Switzerland : , : Palgrave Macmillan, , [2021]; ©2021
• Descrizione fisica: 1 online resource (262 pages)
• Disciplina: 338.27282
• Soggetto topico: Petroleum industry and trade - Economic aspects
• Nota di bibliografia: Includes bibliographical references and index.
• Nota di contenuto: Acknowledgements -- Contents -- List of Figures -- 1 Introduction -- Why This Book? -- Plan of the Book -- Early Days of Competition -- Building a Monopoly -- Oil Markets Go Global -- Tectonic Shifts and Governments -- Competition -- Producers' Cartel -- OPEC Fails -- Liberalisation and the 'Age of Benchmarks' -- Market Lives On -- 2 Oil, Policy, and Market Power -- Market Power -- Oil Projects, Risk and Economies of Scale -- Vertical and Horizontal Integration -- Challenges in the New Age -- New Antitrust Views -- Antitrust and Policy -- References -- 3 Looking at the Mirror: Early Days of the Oil Markets in the United States -- Markets in History -- The First Killer App: Lighting -- Drilling for Oil -- Beginning of the 'Age of Oil' -- Transportation Bottlenecks -- Gathering Lines, Storage, and the First Price Shock -- The First Physical and 'Paper' Oil Markets -- References -- 4 From Competition to Monopoly -- 'The Butcher, Baker, and the Candle Maker' -- More kerosene than Bibles -- The 'Railway problem' -- The Years of Depression -- 'Our Plan' -- Monopolies at War -- The Giant -- The Death of Oil Exchanges -- References -- 5 From Monopoly to Competition (Oil Markets Going Global) -- Quiet Before the Storm -- 'Beyond the Sea a Chicken May Be Bought for a Farthing, But It Costs a Pound to Bring It Home2' -- Growing Competition and the Oil Market Goes International -- 'Marcus's Coup' -- Two More Traders in the Orient -- Tectonic Shifts -- References -- 6 Governments and Oil Markets -- Governments Get Involved -- Moguls and Mandarins16 -- Towards the International Cartel -- Discriminatory Pricing -- The Majors Charge -- References -- 7 From One Cartel to Another -- The World of Oil in the 1950s -- New Kids on the Block -- Tax, Markets, and the Birth of the Producers' Cartel -- The Dumb and the Blind -- References. ; 8 Producers and Companies: Transfer of Power -- First a Stalemate -- War, Nationalism, and Ambition -- Revolution -- Oil Production and Price Regulation in the United States -- The Takeover -- Peak Oil (Again) and Record High Prices -- References -- 9 The Producers' Cartel -- OPEC Legacy -- Economic Models of OPEC Behaviour -- Panic of 1979: Everything that Could Go Wrong, Went Wrong -- Broken System and the Growth of the Spot Market -- More Trouble -- The Price War -- A Clumsy Cartel?66 -- Challenges -- References -- 10 Governments and Markets -- North Sea: Exploration -- UK Government Monopolies -- Brent and the UK Fiscal Regime -- Spinning in Practice -- The New Philosophy: Liberalisation and Deregulation -- Trading Expands -- Price Reporting Agencies -- Oil Benchmarks -- References -- 11 Benchmarks: Brent -- The Brent Benchmark -- Dated Brent -- The Early Brent Assessments -- Assessing Brent Prices -- Contracts for Difference (CFDs) -- Brent Derivatives and the Exchanges -- The Asian Link -- References -- 12 Dubai and Oman: Brent's Asian Relatives -- A Grand Old Benchmark -- Changing Flows -- The Brent-Dubai Link: The Heart of the Global Oil Flows -- Price Discovery for Dubai Is a Little Different -- Oman: Dubai's Neglected Sibling -- Just a Minor Benchmark? -- References -- 13 US Oil and the WTI Benchmark -- The Cushing Hub -- Rebirth of a Market -- Challenges -- Peak Oil (Again, Again) -- Shale Oil -- WTI Goes Negative -- References -- 14 Global Oil Markets: Lessons from the 2020 COVID-19 Pandemic -- The 2020 Demand Shock -- Brent Survived -- Asian Disconnect -- Problems with the Shanghai Exchange Oil Contract -- Murban: Another Middle East Benchmark? -- Lessons for OPEC -- 2020 Oil Balances in Real Time -- References -- 15 Epilogue -- The Oil Market Survived the Pandemic -- Lessons from History -- Markets and Energy Transition -- Bibliography. ; Index -- Correction to: Trading and Price Discovery for Crude Oils -- Correction to: A. Imsirovic, Trading and Price Discovery for Crude Oils, https://doi.org/10.1007/978-3-030-71718-6 -- Acknowledgements -- Contents -- List of Figures.
• Titolo autorizzato: Trading and Price Discovery for Crude Oils
• ISBN: 3-030-71718-6
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910484729303321
• Lo trovi qui: Univ. Federico II