This Letort Paper analyzes the new global oil market. It shows how the price of oil reflects the confluence of four interrelated factors. First, the Paper explores why the supply of oil has been soaring in the world. Second, it explains why the demand for oil has been relatively weak. Third, it discusses the role that Wall Street plays in moving the price of oil. Fourth, it examines the importance of the U.S. dollar in determining the prices of oil. As a result of these factors, oil prices are relatively low. The Paper also ...
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This Letort Paper analyzes the new global oil market. It shows how the price of oil reflects the confluence of four interrelated factors. First, the Paper explores why the supply of oil has been soaring in the world. Second, it explains why the demand for oil has been relatively weak. Third, it discusses the role that Wall Street plays in moving the price of oil. Fourth, it examines the importance of the U.S. dollar in determining the prices of oil. As a result of these factors, oil prices are relatively low. The Paper also explains how these low oil prices produce winners and losers at home and abroad. In addition, it explores where oil prices are likely to go in 2016 without policy intervention. It also recommends ways to make oil prices less volatile. Audience: Wall Street and international investment traders, global economists, OPEC and North American oil producers, environmental policy analysts, and consumers may be interested in this Letort Paper. Additionally, students pursuing coursework relating to trade and economic development may also find this resource beneficial as a supplemental text or research. Related products: Annual Energy Outlook 2016 With Projections to 2040 can be found at this link: https: //bookstore.gpo.gov/products/sku/061-003-01168-3 Code of Federal Regulations, Title 18, Conservation of Power and Water Resources, Pt. 1-399, Revised as of April 1, 2015 can be found at this link: https: //bookstore.gpo.gov/products/sku/869-082-00058-9 Code of Federal Regulations, Title 17, Commodity and Securities Exchanges, Pt. 1-40, Revised as of April 1, 2016 can be found at this link: https: //bookstore.gpo.gov/products/sku/869-084-00054-9 Unlimited Impossibilities: Intelligence Support to the Deepwater Horizon Response can be found here: https: //bookstore.gpo.gov/products/sku/008-020-01634-9 Deep Water: The Gulf Oil Disaster and the Future of Offshore Drilling, Report to the President, January 2011 --print format can be found here: https: //bookstore.gpo.gov/products/sku/040-000-00784-9 --epub file format can be found here: https: //bookstore.gpo.gov/products/sku/040-300-00001-5 Macondo: The Gulf Oil Disaster. Chief Counsel\'s Report 2011 --print format can be found here: https: //bookstore.gpo.gov/products/sku/040-000-00787-3 --ePub format can be found here: https: //bookstore.gpo.gov/products/sku/999-000-55552-1
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