- PhD student
- Thursday 7 Mar 2024, 16:00 - 18:00
- PhD defence
- Spoken Language
- Aula B and livestream
- International Institute of Social Studies
On 7 March 2024, Blas Regnault will defend his thesis examining crude oil prices from 1960 to 2019, aiming to understand the trends and fluctuations of these prices
His research into crude oil prices, detected several gaps in the standard approach used to expain the variables and causalities of these prices. This laid the foundations for an alternative explanation of the determinants of the money prices of crude oil.
In his conclusion, Blas Reganult asserts that production costs in the least efficient oil industry in the world (the USA oil industry) and the evolution of the institutional environment (players, consumers, producers, e.g., the creation of OPEC in 1960) determine the money price trends and sub-trends of oil. He argues that this represents a more plausible explanation than that offered by the standard approach. He further demonstrates that fluctuations in the money price of oil are best explained by global business cycles.