An Empirical Analysis of Supply and Demand Factors Influencing Global Oil Prices: A Panel Data Approach
Milan Tomić,
Srđan Stevandić
Abstract:This study examines the factors that impact global oil prices, focusing on the relationship between supply and demand in international markets. The authors used an econometric panel methodology to identify the primary factors influencing global oil prices, using Brent crude oil prices as the dependent variable. The study also considered alternative measures, such as Dubai and West Texas Intermediate (WTI) prices, as well as a composite global price index derived from the average of WTI, Dubai, and Brent prices… Show more
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