Oil demand shocks reconsidered: A cointegrated vector autoregression

U.S. oil dependence 2014: Is energy independence in sight?

“…11 In the event of a supply shock, the model calculates new equilibrium prices and quantities. That supply shocks induce price shocks is well established whereas the possibility that demand shocks may also create price shocks has not been (Kolodzeij and Kaufmann, 2014;Kaufmann, 2011). The number and quantity of supply disruptions has increased with intensifying turmoil in the Middle East.…”

OPEC and Non-OPEC Oil Production and the Global Economy

“…c o m / l o c a t e / e n e c o market power, in contrast to before 2008 when Saudi Arabia acted as Stackelberg leader with a non-cooperative OPEC. Kolodzeij and Kaufmann (2014) argue that failure to model OPEC and non-OPEC oil production separately (and to just focus on aggregate global oil production) will lead to underestimation of the influence of supply shocks on real oil prices. An increase in economic growth in developing countries may be associated with a higher expected growth for commodity demand than an increase in growth in developed countries.…”

“…In his influential contribution to analysis of the global determinants of real oil prices with monthly data, Kilian (2009) introduced the dry bulk shipping cost as an indicator of global demand for commodities. Kolodzeij and Kaufmann (2014) argue that the connection between dry bulk maritime freight costs and oil prices is due to the relationship between oil prices and the cost of transportation. 12 The quarterly Chinese GDP data are interpolated from annual Chinese purchase power parity GDP in U.S. dollars from OECD statistical tables.…”

The Impact of Slumping Oil Price on the Situation of Tanker Shipping along the Maritime Silk Road

“…(3) After the oil price slumped, the tanker shipping cargo flow increased less during the crude oil export stage, and the increase in the crude oil shipping trade after the transfer period was larger. The research results can provide a scientific basis for improving the decision-making ability of the crude oil shipping market and formulating maritime operations management measures.Sustainability 2019, 11, 4796 2 of 16 significance to rationally adjust fuel management policies to reduce the ship operating costs, enhance the interests of shipping companies and promote the sustainable development of shipping industry [10].Current researches focus on the long-term relationship between oil price fluctuation and maritime trade [11][12][13], while those have less concern about the short-term impact of oil price surge and slump on maritime transport. Therefore, taking the oil price slump in 2014 as an example, this paper attempts to supplement the deficiency of the related research by studying the short-term change relationship between the oil price slump and the shipping situation of oil tankers.…”

“…Current researches focus on the long-term relationship between oil price fluctuation and maritime trade [11][12][13], while those have less concern about the short-term impact of oil price surge and slump on maritime transport. Therefore, taking the oil price slump in 2014 as an example, this paper attempts to supplement the deficiency of the related research by studying the short-term change relationship between the oil price slump and the shipping situation of oil tankers.…”