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£51 today · previous high £51 · all-time low £49

GRIN Verlag Oil Price Developments - Drivers, Economic Consequences and Policy Responses

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Last 70 days · 70 data points (no recent data)

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£50.50 £48.51 £48.94 £49.38 £49.81 £50.25 £50.68 25 July 2026 11 August 2026 28 August 2026 14 September 2026 02 October 2026
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Price Distribution

Price distribution over 70 days • 2 price levels

Days at Price
Current Price
9 days 61 days · current 0 15 31 46 61 £49 £51 Days at Price

Price Analysis

Most common price: £51 (61 days, 87.1%)

Price range: £49 - £51

Price levels: 2 different prices over 70 days

Description
Research Paper (undergraduate) from the year 2007 in the subject Business economics - Economic Policy, grade: 1,0, University of Applied Sciences Berlin, course: General Economics, language: English, abstract: Oil prices are an important determinant of global economic performance. Crude Oil prices ranged between $2.50/bbl and $3.00/bbl from 1948 through the end of the 1960s. As of this day, the price for crude oil is $89.82/bbl. In general, spikes in oil prices are not unusual and are, to some extent, symptomatic of a gradual upward trend in daily oil price volatility. Volatile prices arise from supply and demand that are both highly inelastic in the short run, with the result that even small shocks can have large effects on price. But especially within the last few years, the oil price has continuously increased sharply - and to some extent unexpected. This recent sharp increase in the oil price prompts several questions: Why have oil prices risen? What is the impact on the global economy and on individual countries? How do oil importing countries cope with the higher prices? What are appropriate policy responses to stabilise the economy in face of high oil prices? And last but not least, what role does the Organisation of Petroleum Exporting Countries really play? To begin with, there is no doubt that the recent increase in oil price is mainly demand driven, combined with historically low excess capacity and heightened concerns about supply disruptions. And even without macroeconomic knowledge, everyone is aware that higher oil prices affect the economy as a whole and all its market participants. In the following, this paper analyses in detail the current main oil price drivers, their economic consequences and the possible policy responses - always framed by the volatility and uncertainty that characterise the oil market.

Product Specifications
Brand
GRIN Verlag
Format
paperback
ASIN
3640303040
Category
Books > Subjects > Business, Finance & Law > Economics
Domain
Amazon UK
Release Date
16 April 2009
Listed Since
10 February 2010

Barcode

No barcode data available

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