The Role of Speculation in Oil Markets: What Have We Learned So Far?
A popular view is that the surge in the price of oil during 2003-08 cannot be explained by economic fundamentals, but was caused by the increased financialization of oil futures markets, which in turn allowed speculation to become a major determinant of the spot price of oil. This interpretation has...
| Main Authors: | , , |
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| Format: | Working paper |
| Language: | English |
| Published: |
Oxford Institute for Energy Studies
2012
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