| 来源类型 | Energy Comments
|
| 规范类型 | 评论
|
| Eastward Shifting Oil Markets and the Future of Middle Eastern Benchmarks |
| Fabian Weber
|
| 发表日期 | 2015-07-13
|
| 出版年 | 2015
|
| 页码 | 6
|
| 语种 | 英语
|
| 概述 | The recent increased Chinese activity in the Platts Dubai window is yet another manifestation of the eastward shift of international oil markets. In light of these changing dynamics, the necessity for a new marker for East of Suez crude oil pricing is commonly taken for granted. But must the benchmark for East of Suez necessarily […] |
| 摘要 | The recent increased Chinese activity in the Platts Dubai window is yet another manifestation of the eastward shift of international oil markets. In light of these changing dynamics, the necessity for a new marker for East of Suez crude oil pricing is commonly taken for granted. But must the benchmark for East of Suez necessarily move to Asia, or may strengthening the Middle Eastern benchmark system offer a feasible alternative? To answer this question, this comment briefly examines the factors underlying the current eastward shift of international oil markets. Subsequently, two candidates for an Asian marker for East of Suez will be presented briefly (ESPO Blend, Shanghai Crude Oil Futures Contract). Hereafter, the four main arguments for the necessity of such a new Asian marker will be presented and critically evaluated. Finally, a proposal to rebuild the current Middle Eastern benchmark system, in order to strengthen its position in times of eastward shifting oil markets, is outlined. The proposal aims at linking the physical Dubai market with the Oman futures market on the Dubai Mercantile Exchange. This would allow price signals from the physical Dubai assessment to feed into the DME Oman futures contract (and vice versa) as well as offer the opportunity for physical players to hedge the Dubai price exposure by means of the DME Oman contract. This comment argues that this would not only cope with shifting oil market dynamics, but also solve several issues currently weakening both the Dubai marker and the DME Oman futures contract. |
| 主题 | Energy Policy
; Oil
; Oil & Middle East Programme
|
| 关键词 | Asian Marker
Benchmark Regulation
Brent
DME
Dubai
ESPO
Middle East
Oil Benchmarks
Oil Pricing System
Platts
Shanghai Crude Futures Contract
|
| URL | https://www.oxfordenergy.org/publications/eastward-shifting-oil-markets-and-the-future-of-middle-eastern-benchmarks/
|
| 来源智库 | Oxford Institute for Energy Studies (United Kingdom)
|
| 资源类型 | 智库出版物
|
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/312371
|
推荐引用方式
GB/T 7714 |
Fabian Weber. Eastward Shifting Oil Markets and the Future of Middle Eastern Benchmarks. 2015.
|
|
文件名：
|
Eastward-Shifting-Oil-Markets-and-the-Future-of-Middle-Eastern-Benchmarks-1.pdf
|
|
格式：
|
Adobe PDF
|
此文件暂不支持浏览
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
