Pozycja OPEC na międzynarodowym rynku ropy naftowej w następstwie światowego kryzysu gospodarczego 2007/2008 +

• Authors: Strupczewski Łukasz

Title variants

EN

The position of the OPEC in the international crude oil market as the consequence of the global economic crisis 2007/2008 +

• Languages of publication: PL

Abstracts

EN

One of the most important players present in the global crude oil market is the OPEC, created more than half a century ago. Its activity encountered various challenges which explained both successful and unsuccessful adjustments of its strategy. The aim of this paper is to show that the global economic crisis 2007/2008 contributed to the weakening of the OPEC’s position on the international crude oil market. Changing market conditions, including the creation of a new balance of power between traditional producers, exporters, importers, and consumers of crude oil, and the imbalance of supply and demand for crude oil are largely down to the economic crisis, which affected the international crude oil market and the OPEC itself. In the first part of the article, the long-term evolution of the OPEC’s position on the international crude oil market, especially in the aftermath of the economic crisis 2007/2008, will be analyzed. Afterward, data will be presented concerning price volatility of the international crude oil market as a response to the economic crisis 2007/2008 and its implications for the current market situation, and an attempt will be made to forecast how it might change in the coming years.

Keywords

EN

crude; oil; financial; crisis; OPEC

• Publisher: Uniwersytet Gdański
• Journal: International Business and Global Economy
• Year: 2014
• Volume: Volume 33
• Pages: 249–261

Dates

online

2015-01-05

Contributors

author

Strupczewski Łukasz

Identifiers

DOI

10.4467/23539496IB.13.018.2403