Price movements guided by the OPEC cartel, when there is a possible increase on prices inside the Market

Detalhes bibliográficos
Autor(a) principal: Junger, Alex Paubel
Data de Publicação: 2017
Outros Autores: Cazotto, Gabriel Nikcolas, Guerra, Sinclair Mallet Guy, Facó, Júlio Francisco Blumetti
Tipo de documento: Artigo
Idioma: por
Título da fonte: Research, Society and Development
Texto Completo: https://rsdjournal.org/index.php/rsd/article/view/115
Resumo: The main purpose of this paper is to calculate the estimation of oil supply and demand in the last 12 quarters (2013-2015), using an OLSconometric model, indicating the supply and demand of the market, in a second moment the oil market current supply and demand curves would be indicated for the average price of Brent oil in the abovementioned period. So that in a second moment the "dead weight" of OPEC's economic price model is calculated and how this deadweight economically affects the oil and gas market globally, economically withdrawing the profits that the main producers could obtain if OPEC did not set the price artificially in unstable political scenarios. Lastly, regarding the global economy, and more precisely, the loss in the energy through financial results due the actions taken by OPEC led by Saudi Arabia and its partners in the Middle East, indicating the market failures caused by a cartel.
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spelling Price movements guided by the OPEC cartel, when there is a possible increase on prices inside the MarketMovimientos de precio orientados por el Cartel de la OPEP, cuando hay un posible aumento de precios en el mercadoMovimentações de preço orientadas pelo Cartel da OPEP, quando há um possível aumento de preços no mercadoaceiteconsumidormicroeconomíasector energéticoeconometríafallas de mercado de un cártelpetróleoconsumidormicroeconomiasetor energéticoeconometriafalhas de mercado de um cartelpetroleumconsumermicroeconomicsenergy sectoreconometricmarket deficiency of a cartelThe main purpose of this paper is to calculate the estimation of oil supply and demand in the last 12 quarters (2013-2015), using an OLSconometric model, indicating the supply and demand of the market, in a second moment the oil market current supply and demand curves would be indicated for the average price of Brent oil in the abovementioned period. So that in a second moment the "dead weight" of OPEC's economic price model is calculated and how this deadweight economically affects the oil and gas market globally, economically withdrawing the profits that the main producers could obtain if OPEC did not set the price artificially in unstable political scenarios. Lastly, regarding the global economy, and more precisely, the loss in the energy through financial results due the actions taken by OPEC led by Saudi Arabia and its partners in the Middle East, indicating the market failures caused by a cartel.Este artículo tiene como principal objetivo, calcular en los últimos 12 trimestres (2013-2015) la estimación de oferta y demanda de petróleo, utilizando un modelo econométrico OLS indicando la oferta y demanda del mercado, en un segundo momento se dirigirá un esfuerzo para indicar las ofertas actuales curvas de oferta y demanda del mercado de petróleo por el precio medio del petróleo Brent en el período arriba mencionado. Para que posteriormente se calcula el peso muerto del modelo económico de precios fijados de la OPEP y cómo ese peso muerto afecta económicamente al mercado de petróleo y gas mundial, retirando económicamente los beneficios que los principales productores podrían obtener si la OPEP no fijó el precio artificialmente en situaciones de escenario político inestable. Indicando, por fin, en cuanto a la economía global y, más precisamente, el sector energético pierde en términos financieros con las acciones tomadas por el cartel guiado por Arabia Saudita y sus socios en Oriente Medio, indicando las fallas de mercado propiciadas por un cártel.Esse artigo tem como principal objetivo, calcular nos últimos 12 trimestres (2013-2015) a estimação de oferta e demanda de petróleo, utilizando um modelo econométrico OLS indicando a oferta e demanda do mercado, em um segundo momento será direcionado um esforço para indicar as atuais curvas de oferta e demanda do mercado de petróleo pelo preço médio do petróleo Brent no período supracitado acima. Para que posteriormente, seja calculado o “peso morto” do modelo econômico de preço fixados da OPEP e como esse peso-morto afeta economicamente o mercado de petróleo e gás mundial, retirando economicamente os lucros que os principais produtores poderiam auferir caso a OPEP não fixasse o preço artificialmente em situações de cenário político instável. Indicando, por fim, quanto à economia global e, mais precisamente, o setor energético perde em termos financeiros com as ações tomadas pelo cartel guiado pela Arábia Saudita e seus parceiros no Oriente Médio, indicando as falhas de mercado propiciadas por um cartel.Research, Society and Development2017-07-31info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://rsdjournal.org/index.php/rsd/article/view/11510.17648/rsd-v5i3.115Research, Society and Development; Vol. 5 No. 3; 245-260Research, Society and Development; Vol. 5 Núm. 3; 245-260Research, Society and Development; v. 5 n. 3; 245-2602525-3409reponame:Research, Society and Developmentinstname:Universidade Federal de Itajubá (UNIFEI)instacron:UNIFEIporhttps://rsdjournal.org/index.php/rsd/article/view/115/113Copyright (c) 2017 Alex Paubel Junger, Gabriel Nikcolas Gazotto, Sinclair Mallet Guy Guerra, Júlio Francisco Blumetti Facóinfo:eu-repo/semantics/openAccessJunger, Alex PaubelCazotto, Gabriel NikcolasGuerra, Sinclair Mallet GuyFacó, Júlio Francisco Blumetti2019-01-21T22:49:47Zoai:ojs.pkp.sfu.ca:article/115Revistahttps://rsdjournal.org/index.php/rsd/indexPUBhttps://rsdjournal.org/index.php/rsd/oairsd.articles@gmail.com2525-34092525-3409opendoar:2024-01-17T09:25:47.215783Research, Society and Development - Universidade Federal de Itajubá (UNIFEI)false
dc.title.none.fl_str_mv Price movements guided by the OPEC cartel, when there is a possible increase on prices inside the Market
Movimientos de precio orientados por el Cartel de la OPEP, cuando hay un posible aumento de precios en el mercado
Movimentações de preço orientadas pelo Cartel da OPEP, quando há um possível aumento de preços no mercado
title Price movements guided by the OPEC cartel, when there is a possible increase on prices inside the Market
spellingShingle Price movements guided by the OPEC cartel, when there is a possible increase on prices inside the Market
Junger, Alex Paubel
aceite
consumidor
microeconomía
sector energético
econometría
fallas de mercado de un cártel
petróleo
consumidor
microeconomia
setor energético
econometria
falhas de mercado de um cartel
petroleum
consumer
microeconomics
energy sector
econometric
market deficiency of a cartel
title_short Price movements guided by the OPEC cartel, when there is a possible increase on prices inside the Market
title_full Price movements guided by the OPEC cartel, when there is a possible increase on prices inside the Market
title_fullStr Price movements guided by the OPEC cartel, when there is a possible increase on prices inside the Market
title_full_unstemmed Price movements guided by the OPEC cartel, when there is a possible increase on prices inside the Market
title_sort Price movements guided by the OPEC cartel, when there is a possible increase on prices inside the Market
author Junger, Alex Paubel
author_facet Junger, Alex Paubel
Cazotto, Gabriel Nikcolas
Guerra, Sinclair Mallet Guy
Facó, Júlio Francisco Blumetti
author_role author
author2 Cazotto, Gabriel Nikcolas
Guerra, Sinclair Mallet Guy
Facó, Júlio Francisco Blumetti
author2_role author
author
author
dc.contributor.author.fl_str_mv Junger, Alex Paubel
Cazotto, Gabriel Nikcolas
Guerra, Sinclair Mallet Guy
Facó, Júlio Francisco Blumetti
dc.subject.por.fl_str_mv aceite
consumidor
microeconomía
sector energético
econometría
fallas de mercado de un cártel
petróleo
consumidor
microeconomia
setor energético
econometria
falhas de mercado de um cartel
petroleum
consumer
microeconomics
energy sector
econometric
market deficiency of a cartel
topic aceite
consumidor
microeconomía
sector energético
econometría
fallas de mercado de un cártel
petróleo
consumidor
microeconomia
setor energético
econometria
falhas de mercado de um cartel
petroleum
consumer
microeconomics
energy sector
econometric
market deficiency of a cartel
description The main purpose of this paper is to calculate the estimation of oil supply and demand in the last 12 quarters (2013-2015), using an OLSconometric model, indicating the supply and demand of the market, in a second moment the oil market current supply and demand curves would be indicated for the average price of Brent oil in the abovementioned period. So that in a second moment the "dead weight" of OPEC's economic price model is calculated and how this deadweight economically affects the oil and gas market globally, economically withdrawing the profits that the main producers could obtain if OPEC did not set the price artificially in unstable political scenarios. Lastly, regarding the global economy, and more precisely, the loss in the energy through financial results due the actions taken by OPEC led by Saudi Arabia and its partners in the Middle East, indicating the market failures caused by a cartel.
publishDate 2017
dc.date.none.fl_str_mv 2017-07-31
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://rsdjournal.org/index.php/rsd/article/view/115
10.17648/rsd-v5i3.115
url https://rsdjournal.org/index.php/rsd/article/view/115
identifier_str_mv 10.17648/rsd-v5i3.115
dc.language.iso.fl_str_mv por
language por
dc.relation.none.fl_str_mv https://rsdjournal.org/index.php/rsd/article/view/115/113
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Research, Society and Development
publisher.none.fl_str_mv Research, Society and Development
dc.source.none.fl_str_mv Research, Society and Development; Vol. 5 No. 3; 245-260
Research, Society and Development; Vol. 5 Núm. 3; 245-260
Research, Society and Development; v. 5 n. 3; 245-260
2525-3409
reponame:Research, Society and Development
instname:Universidade Federal de Itajubá (UNIFEI)
instacron:UNIFEI
instname_str Universidade Federal de Itajubá (UNIFEI)
instacron_str UNIFEI
institution UNIFEI
reponame_str Research, Society and Development
collection Research, Society and Development
repository.name.fl_str_mv Research, Society and Development - Universidade Federal de Itajubá (UNIFEI)
repository.mail.fl_str_mv rsd.articles@gmail.com
_version_ 1797052822914596864

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