| 書目名稱 | Trading and Price Discovery for Crude Oils | | 副標題 | Growth and Developme | | 編輯 | Adi Imsirovic | | 視頻video | http://file.papertrans.cn/928/927473/927473.mp4 | | 概述 | Uncovers the fascinating history of ‘making‘ the price of oil – who sets it, why, and how..Distills exactly what the price of oil means Showcases the pitfalls and imperfections in the oil markets | | 圖書封面 |  | | 描述 | .This is a book about the international oil market. It takes a historical perspective on how the market emerged, developed, and became what it is today—the biggest commodity market in the world. It ismatureand complex, but far from perfect.? Throughout most of its150-yearhistory, the oil market has been monopolised by companies and governments. For only a fraction of that, oil traded in a relatively free market. As a result, we had to live with ‘big oil’, economic shocks, high oil prices, instability and wars. Using a simple concept of market power, this book will explain the meaning of ‘oil price’ andhowit is established while offering a valuable lesson for other commodities..Market power is the key to understanding the ‘price of oil’. This book uses a simple concept of price-makers and price-takers to examine the evolution of oil markets, their structure, and prices. The early decades of the oil industry were competitive with low barriers to entry. Barely 25 years later, the Standard Oil company created a refining monopoly, buying oil at its own ‘posted’ price. In the following century, the cartel of major oil companies, helped by their governments, did the same at the internatio | | 出版日期 | Book 2021 | | 關鍵詞 | Oil benchmarks; the price of oil; international oil markets; Oil markets; Crude oil; Trading oil; oil pric | | 版次 | 1 | | doi | https://doi.org/10.1007/978-3-030-71718-6 | | isbn_softcover | 978-3-030-71720-9 | | isbn_ebook | 978-3-030-71718-6 | | copyright | The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerl |
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