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O il C oal Gas B io m a s s N u c le a r H yd ro O th e r re n e w a b le s
Introduction
Distribution of Proved Reserves
Introduction
Crude Oil Prices
Introduction
Easy oil is finished
•
• New technology increase the oil
production cost: Deep water oil; Oil
sand
• Strict rules for oil industry: BP
accident; Low carbon
requirement(carbon capture &
storage)
• Currency change rate and Interest
rate: QE2
Introduction
US dollar index & Oil price
vIn ve n to ry m a n ip u la tio n
A fe a r th a t th e o il p rice w o u ld cra sh d o w n
m a in ta in sta b le p rice b y ke e p in g lo w o il
in ve n to ry
Supply Side Factors
v Unconventional Sources of Oil
Extraction is financially unfeasible
Supply Side Factors
• To conclude, due to the supply-side factors, the global oil
supply remains relatively constant compared with the
increasing demand. Therefore, global oil price will increase
as the demand rises.
•
•
Source: http://omrpublic.iea.org/
Conclusion
• Short-Term impact on Supply and
Demand Curves
– The rise of emerging markets has also
changed the supply and demand
dynamics. The demand increases and
the curve moves to the right. For any
given level of price, more oil is
demanded and price rocketed
Conclusion
• Short-Term impact on Supply and
Demand Curves
– Because OPEC supply so much of the
world’s oil, any restricting of supply
by OPEC causes the blue supply
curve to move to the left, and the
price rocketed.
Conclusion
• Long-Term impact on Supply and
Demand Curves
Over the long-term, high oil prices will tend
to encourage consumers to either reduce
energy consumption or shift to other forms
of energy. Similarly, investment in either
inhospitable areas or in developing
technologies will result in greater quantities
of oil or synthetic crude coming on to the
market.
Thus demand will shift to left (decrease) and
supply will shift to right (increase) leading
to drop in the price.
However, short-term impacts will be effective