Monetary Policy and Crude Oil
Prices, Production and Consumption
Basil Oberholzer
Chapter 3: US monetary policy and the global crude oil market
Prices, Production and Consumption
Basil Oberholzer
Extract
When applying the hitherto theoretical analysis to the real world, there are some additional issues that should be enlightened. In this chapter, the specific case of US monetary policy and its implementation mechanisms are taken into account both for the period of conventional and so-called unconventional policies. Moreover, the global crude oil pricing system is presented. It shows that there are many factors, in addition to theory, which contribute to uncertainty in the market. An additional section investigates how the market for crude oil is related to other energy sources like natural coal and gas. Finally, we examine how monetary policy of a single country can influence the globally integrated oil market.
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