DEVELOPMENT OF TIGHT OIL RESOURCES IN USA: PROFITABILITY OF EXPLOITATION AND EFFECT OF MACROECONOMIC INDICATORS IN VOLATILE OIL PRICE ENVIRONMENT
Journal Title: UNKNOWN - Year 2017, Vol 32, Issue 3
Abstract
Large scale development of tight oil resources in US started after 2010. with following five-year period of favorable steady increase in crude oil price. During this relatively short expansion cycle, operating and capital expenses changed drastically for main tight oil plays due to technological improvements in both well drilling and completion, expansion of service sector as well as loose government monetary policy which allowed favorable financing. This paper analyzed trends in costs during expansion period, as well as correlation of oil price to number of operating rigs and production quotas. After 2008/2009. world financial crisis economy recovery in US was somewhat sluggish and it caused extreme volatile environment in both equity and commodity markets. In such volatile environment intra-day crude oil prices, as well as other commodities and equities, show significant reaction to monthly published macroeconomic indicator reports, which give better overviews of trends in economic recovery. Prior to announcement, these reports always have forecasted value determined by consensus among market analysts. Therefore, any positive or negative surprise in real value tends to influence price of oil. This paper investigated influence of such macroeconomic reports to closing intraday oil price, as well as effect of other important daily market indices. Analysis showed that only Producer Price Index (PPI), among other indicators, has statistical significance of affecting intraday closing oil price.
Authors and Affiliations
Kristina Strpić, Monika Miličević, Tomislav Kurevija
BAKOVIĆI THE BIGEST GOLD DEPOSIT OF BOSNIA AND HERZEGOVINA
Tectonic setting, para genesis, structure and texture of ores, sulphide sulphur isotopic composition allign the Bakovići veiny deposit in the group of polymetallic, postmagmatic hydrothermal deposits in the Mid-Bosnian S...
ESTIMATION OF RESISTANCE OF STONE AGGREGATES TO RECRUSHING
The stone aggregates of dolomite, andesitic and spililized diabase were tested to estimate their response to abrasive-impact strain. Standardized and non-standardized estimation of recrushing action were utilized in the...
UTJECAJ SATURIRANOSTI NA JEDNOOSNU TLAČNU ČVRSTOĆU VAPNENCA IZ ISTRAŽNOG PROSTORA CRNOGLAV KOD NEUMA
Istražni prostor Crnoglav kod Neuma u Bosni i Hercegovini geološki je građen od sedimentnih stijena vapnenca. Intaktnom materijalu s tog područja u ovom radu istražen je utjecaj zasićenja vodom na fizikalno-mehanička svo...
ODNOS SUSTAVA TEHNIČKIH I SOCIJALNIH MJERA U EKOLOŠKOM PROJEKTU
U radu se razmatra odnos sustava tehničkih i socijalnih mjera u ekološkom projektu sa stanovišta konstruktivističke teorije u sociologiji tehnologije. Da bi se adekvatno rješio tehnološki problem zagađivanja okoline uglj...
MAGNETSKA ISTRAŽIVANJA KOMBINACIJOM RAZLIČITIH MAGNETOMETARA
Analizirana je kvaliteta mjerenja s dva modela protonskih magnetometara, koji su konstruirani na principu nuklearne magnetske rezonancije, ali se razlikuju u izvedbi. Također je ispitana mogućnost njihovog zajedničkog ra...