Publication
9 Jul 2008
What is behind the ever-increasing price of crude oil? The key fact usually adduced to support this position is that supply and demand seem finely balanced as inventories are not increasing. But this argument is wrong. The observation that inventories are not increasing is irrelevant since there is a very convenient way to store oil that is not measured by inventories data: just leave it in the ground!
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English (PDF, 2 pages, 58 KB) |
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Author | Daniel Gros |
Series | CEPS Commentaries |
Publisher | Centre for European Policy Studies (CEPS) |
Copyright | © 2008 Centre for European Policy Studies (CEPS) |