Analysis of the degree of monopolization world oil market

Oksana Kohut


The analysis determines the dependence of the world's oil total production from various economic factors. In The paper describes the main factors affecting global oil production. The research, based on econometric analysis, discovers the main economic nature that takes place on the market of main world energy resource. The paper analyzes and describes the development of total oil market. Also this work has installation of historical stages of world oil trade, market and positions of main exporting countries. This paper describes the major shocks, which influence on global supply and demand. These shocks are difficult to explain using econometric study, because they depend on political and economic global turmoil. The oil is main world resource, which are used by everyone country. Different country use different amount of this resource, but everyone needs them. In addition, some sectors of the economy depend directly on forecasts of the situation on the oil market for their business. For example, airlines rely on such forecasts in setting airfares, automobile companies decide their product menu and product prices with oil price forecasts in mind, and utility companies use oil price forecasts in deciding whether to extend capacity or to build new plants. That's why is very impotent to know process of function of oil market. The world oil market is a closed system, which requires deep study and research through a variety of tests, research data and theoretical hypothesis and same of them are conducted in this paper.


Log-linear dynamic model; trend component; oligopoly; monopoly; total output and production capacity


Гончар М. Запобігання енергетичним кризам через створення секторних режимів прозорості і довіри у Європі [Електронний ресурс] / М. Гончар, О. Малиновський. - Режим доступу :

Яценко А. Міжнародні ринки ресурсів / А. Яценко ; [за заг. ред. Ю. В. Макогона]. - К. : Центр навчальної літ-ри, 2005. - 194 с.

Пахомов Ю. Національні економіки в глобальному конкурентному середовищі / Ю. М. Пахомов, Д. Г. Лук'яненко, Б. В. Губський. - К. : Україна, 1997. - С. 139-159.

Speech by Javier Solana. The External Energy Policy of the European Union"/ IFRI/ Brussels/ /1 February 2008 [Електронний ресурс]. - Режим доступу : /discours/98532.pdf.

Солонінко К. С. Міжнародна економіка / К. С. Солонінко. - К. : Кондор, 2008. - 380 c.

Chao-Wei L. Singapore's Export Promotion Strategy and Economic Growth / L. Chao-Wei // Working paper. - 2001, March. - № 116. - 18 p.

Al-Sultan A. M. Alternative Models for OPEC Behavior / A. M. Al-Sultan // Journal of Energy and Development. - 1995. - 18(2). - Рр. 263-281.

Amano A. A Small Forecasting Model of the World Oil Market / A. Amano // Journal of Policy Modeling. - 1987. - (4). - Рр. 615-635.

Griffin J. Energy Economics and Policy / J. Griffin, H. Steele. - New York : Academic Press, 1986.

Honchar M. & Malynovskyi O., Zapobihannia enerhetychnym kryzam cherez stvorennia sektornykh rezhymiv prozorosti i doviry u Yevropi, аvailable at:

Yatsenko A. (2005), Mizhnarodni rynky resursiv, Kyiv, 194 p.

Pakhomov Yu. M., Lukianenko D. H. & Hubskyi B. V. (1997), Natsionalni ekonomiky v hlobalnomu konkurentnomu seredovy¬shchi, Kyiv, рр. 139-159.

Solana J. (2008), The External Energy Policy of the European Union. IFRI, Brussels, 1 February, аvailable at: www.consilium. /discours/98532.pdf.

Soloninko K. (2008), Mizhnarodna ekonomika, Kondor, Kyiv, 380 p.

Chao-Wei L. (2001), Singapore's Export Promotion Strategy and Economic Growth, Working paper, March, № 116, 18 p.

Al-Sultan A. (1995), Alternative Models for OPEC Behavior, Journal of Energy and Development, 18 (2), рр. 263-28.

Amano A. (1987), A Small Forecasting Model of the World Oil Market, Journal of Policy Modeling, (4), рр. 615-635.

Griffin J. & Steele H. (1986), Energy Economics and Policy, Academic Press, New York.

GOST Style Citations

ISSN 1728-9343 (Print)

ISSN 2411-3093 (Online)