Why oil prices have moved higher

Journal article

The central point to be made about the move up in oil prices is that it reflects structural rather than cyclical issues. That is to say that higher prices are not the result of a random coincidence of short-term factors that could easily go away again. Instead, the move represents a significant structural shift upwards from the circumstances of the 1990s. Over the past two years, that shift has become reflected in longer-term market values, as is seen in the time curve for West Texas Intermediate (WTI) crude oil prices.

Authors: Horsnell, P

• Publication status: Published
• Peer review status: Peer reviewed
• Publisher: Oxford Institute for Energy Studies
• Journal: Oxford Energy Forum
• Volume: August 2004
• Issue: 58
• Pages: 10-12
• Publication date: 2004-08-01
• Edition: Publisher's version
• ISSN: 0959-7727
• Language: English
• Keywords: OIES