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Crude oil price decision under considering emergency and release of strategic petroleum reserves

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单位: [1]Huazhong Univ Sci & Technol,Tongji Med Coll,Tongji Hosp,Canc Biol Res Ctr,Wuhan 430030,Hubei,Peoples R China [2]Wuhan Univ, Sch Econ & Management, Wuhan 430072, Peoples R China
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关键词: Emergency Strategic petroleum reserves Crude oil price Case analysis

摘要:
With the development of economics, oil has an important influence on social stability. The key challenge for oil import is steady supply. However, in this article, we do not focus on this aspect but the fluctuation of crude oil price when emergency and release of strategic petroleum reserves occur. It is a very complex research in real-life environment. In this situation, case analysis is the best tool for solving this problem. Our model is formulated in such a way as to simultaneously consider new oil price breakpoints, different emergency and so on. For solving the problem, a new programming is developed. Finally, an analysis is presented to illustrate the proposed method. The results show: (1) Natural disasters have less influences on crude oil price than social conflicts. As the impact of Hurricane Katrina is 3.27, less than 4.044 of Libyan conflict, and the subsequent influence is also limited, 5 days less than 8 days of the conflict. (2) Releases of strategic petroleum reserves are effective for the reliefs of oil price fluctuations caused by emergencies, respectively 41.05, 6.48 and 5, presenting a weakening trend of stabilizing role. (C) 2016 Elsevier Ltd. All rights reserved.

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出版当年[2015]版:
大类 | 1 区 工程技术
小类 | 1 区 热力学 2 区 能源与燃料
最新[2025]版:
大类 | 1 区 工程技术
小类 | 1 区 热力学 2 区 能源与燃料
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出版当年[2014]版:
Q1 THERMODYNAMICS Q1 ENERGY & FUELS
最新[2023]版:
Q1 ENERGY & FUELS Q1 THERMODYNAMICS

影响因子: 最新[2023版] 最新五年平均 出版当年[2014版] 出版当年五年平均 出版前一年[2013版] 出版后一年[2015版]

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第一作者单位: [1]Huazhong Univ Sci & Technol,Tongji Med Coll,Tongji Hosp,Canc Biol Res Ctr,Wuhan 430030,Hubei,Peoples R China
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