The US Fracking Boom: Impact on Oil Prices

被引：8
作者：
Frondel, Manuel [1 ,2 ]
Horvath, Marco [1 ,2 ]
机构：
[1] RWI Leibniz Inst Econ Res, Ruhr Grad Sch Econ, Bochum, Germany
[2] Ruhr Univ Bochum, Bochum, Germany
来源：
ENERGY JOURNAL | 2019年 / 40卷 / 04期
关键词：
Dynamic OLS; Error Correction Model; Shale Oil; OPEC; MARKET; COINTEGRATION;
D O I：
10.5547/01956574.40.4.mfro
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
As of late 2008, the steady decline of U.S. crude oil production over the last decades was reversed by the increased adoption of the hydraulic fracturing ("fracking") technology. Adapting the supply-side model proposed by Kaufmann et al. (2004) to assess OPEC's ability to influence real oil prices, this paper investigates the effect of the increase in U.S. oil production due to fracking on world oil prices. Among our key results obtained from (dynamic) OLS estimations, there is a statistically significant negative long-run relationship between increased U.S. oil production and oil prices.
引用
收藏
页码：191 / 205
页数：15
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