CBOD 2018 Industry Report

The 2018 CBOD Industry Report reviews the 2018 fiscal year and, for the first time, is structured in six chapters with the introduction of a review of the gas sector by the African Centre for Energy Policy (ACEP). As with previous reports, it reviews the policy, finance, market and infrastructure sectors and issues relative to […]

What Drives Commodity Price Booms and Busts?

Understanding the drivers of commodity price booms and busts is of first-order importance for the global economy. A significant portion of income and welfare in both commodity-consuming and commodity-producing nations hinges upon these prices (Bernanke, 2006; IMF, 2012). They also vitally affect the distribution of income within particular nations as the ownership of natural resources […]

Peak Oil Demand and Long-Run Oil Prices

Global oil markets are changing dramatically. The advent of electric vehicles and the growing pressures to decarbonise the transportation sector means that oil is facing significant competition for the first time within its core source of demand. This has led to considerable focus within the industry and amongst commentators on the prospects for peak oil […]

OPEC Policy in the Age of Trump

President Trump’s tweet on February 25 urging OPEC to ‘relax’ and to take it ‘easy’ with their cuts, and that a ‘fragile’ global economy can’t tolerate a higher oil price, did have an immediate price impact, with the Brent price declining by 4 per cent on the day, from nearly $67/b down to $64/b (see […]

Demand Shocks Fuel Commodity Price Booms and Busts

Booms and busts in commodity markets are a particularly important part of the global economy. They affect inflation and consumer spending, determine investment and welfare in producing nations. They also influence growth enhancing institutions and may even lead to civil unrest. Understanding which shocks drive these low-frequency price movements and how long they persist is […]