The starting date for the data set is chosen since the equilibrium price level has shifted to a new regime since 2002. The potential cause is that the balance between the demand and supply of crude oil is increasingly constrained by its limited and scarce nature in recent years, due to the...
The starting date for the data set is chosen since the equilibrium price level has shifted to a new regime since 2002. The potential cause is that the balance between the demand and supply of crude oil is increasingly constrained by its limited and scarce nature in recent years, due to the...