The Development of Crude Oil and Natural Gas Prices and the Energy Security of the European Union

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Saleh Mothana Obadi – Institute of Economic Research, Slovak Academy of Sciences, Bratislava, Slovakia
Matej Korcek – Institute of Economic Research, Slovak Academy of Sciences, Bratislava, Slovakia

Series: Energy Policies, Politics and Prices; European Political, Economic, and Security Issues
BISAC: BUS070040; BUS014010
DOI: https://doi.org/10.52305/MSFR6835

In this book, the researchers focus on the accurate analysis of the developments, events, and turns that each of the oil and gas markets have gone through since the beginning of the 1970s. They take advantage of their long experience as economists to independently analyze the factors driving oil and gas prices and the role of the main players in these markets to influencing supply and demand based on quantitative and qualitative analysis. The authors use time series analysis and mathematical models to obtain independent scientific results. It is clear that geopolitical events had an active and prominent role in the movement of oil and gas prices in the global markets. Naturally, geopolitical events affected prices in an indirect way more than directly, and that is on the supply factor, which in turn mostly affected the rise in oil and gas prices. There are many examples of this, including the two oil price crises in the 1970s, the natural gas supply crises of 2009 and 2014, and the military conflict in Ukraine.

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Table of Contents

Preface

Acknowledgments

Introduction

Chapter 1. The Development of Global Crude Oil Markets and Oil Shocks

Chapter 2. Impact of the Covid-19 Pandemic, US-China Trade War and Military Conflict in Ukraine on Oil Prices

Chapter 3. Natural Gas Landscape in Europe and Crises of Twenty-First Century

Chapter 4.  Development of Natural Gas Prices between 2018 – 2022

Chapter 5. Examining the Development of Price of Natural Gas in Europe: Quantitative Analysis

Conclusion

References

About the Authors

Index

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