| 来源类型 | Papers |
| 规范类型 | 报告 |
| DOI | https://doi.org/10.26889/9781784670412 |
| The Dynamics of the Revenue Maximisation–Market Share Trade-off – Saudi Arabia’s Oil Policy in the 2014–2015 Price Fall | |
| Bassam Fattouh; Rahmat Poudineh; Anupama Sen | |
| 发表日期 | 2015-10-19 |
| 出版年 | 2015 |
| 页码 | 7 |
| 语种 | 英语 |
| 概述 | This paper follows on from ‘Saudi Arabia’s Oil Policy: More than Meets the Eye?’ published in June 2015, which raised a set of fundamental questions in relation to the sharp drop in the oil price between June 2014 and January 2015, and OPEC’s decision, spearheaded by Saudi Arabia, not to cut output in response. We […] |
| 摘要 | This paper follows on from ‘Saudi Arabia’s Oil Policy: More than Meets the Eye?’ published in June 2015, which raised a set of fundamental questions in relation to the sharp drop in the oil price between June 2014 and January 2015, and OPEC’s decision, spearheaded by Saudi Arabia, not to cut output in response. We develop a simple analytical framework, which formalizes Saudi Arabia’s decision-making process relative to the fundamental revenue maximization-market share trade-off in the 2014-15 oil price fall. Using a simple game, we show that under uncertainty, it is always better off for the Kingdom to assume shale oil supply is elastic and not to cut output. But we also argue that as Saudi Arabia learns more about this new source of supply, its policy will adapt accordingly. The fact Saudi Arabia’s oil policy could change as the trade-off between revenue maximization and market share evolves, and as new information is transmitted to the market, will keep the market second-guessing. It will continue to shape market expectations and influence market outcomes. Executive Summary |
| 主题 | Country and Regional Studies ; Energy Policy ; Oil ; Oil & Middle East Programme |
| 关键词 | game theory Market Share Oil OPEC revenue maximization Saudi Arabia US Shale Volatility WPM 61 WPM61 |
| URL | https://www.oxfordenergy.org/publications/the-dynamics-of-the-revenue-maximisation-market-share-trade-off-saudi-arabias-oil-policy-in-the-2014-2015-price-fall/ |
| 来源智库 | Oxford Institute for Energy Studies (United Kingdom) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/312378 |
| 推荐引用方式 GB/T 7714 | Bassam Fattouh,Rahmat Poudineh,Anupama Sen. The Dynamics of the Revenue Maximisation–Market Share Trade-off – Saudi Arabia’s Oil Policy in the 2014–2015 Price Fall. 2015. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| WPM-61.pdf（1656KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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