scholarly journals Problems of financing of technological innovation in oil production market

2020 ◽  
Vol 13 (2) ◽  
pp. 233-243
Author(s):  
A. F. Leshchinskaya ◽  
I. V. Ivolgina ◽  
I. D. Stepanova ◽  
N. A. Akimova
Keyword(s):  
Supply And Demand ◽  
Oil Prices ◽  
Oil Production ◽  
The State ◽  
Market Mechanism ◽  
Annual Number ◽  
Daily Production ◽  
Oil Market ◽  
Currency Exchange ◽  
Oil Export

The article presents the results of the study of pricing problems in the world oil market in terms of dependence of the oil supply on the state of oil production companies. The authors attempted to examine the degree of dependence of oil production on such factors as the number of enterprises in the industry, average annual number of staff in them, production drilling volume, average daily production rate per well, degree of wear of fixed assets of companies, the number of commissioned production facilities, renewal of fixed assents of companies, profitability level, business activity of the enterprises in the industry. The study is based on the data characterizing the development of oil market within a relatively steady period. The global oil market is a delicate exchange market mechanism sensitive to changes in pricing trends in global commodity and financial markets. World oil pricing trends depend on many political, economic, seasonal, regional factors as well as the situation with the tanker fleet, etc. The aggravation of the crisis and expectations of businesses about the future dynamics of global oil prices impact currency exchange rates, stock quotes, retail and wholesale prices. The COVID-19 pandemics caused decrease in manufacturing and other economic activity which determine oil export volumes. The current situation forces most of oil cartel countries to reduce quotes. The state of oil production industry, supply and demand relation, stabilization of oil prices remain the key aspects of pricing in the oil market.

FACTORS INFLUENCING THE DYNAMICS OF CHANGES IN OIL PRICES

2020 ◽  
Vol 1 (11) ◽  
pp. 103-108
Author(s):  
T. I. SAILAONOV ◽  
Keyword(s):  
Supply And Demand ◽  
Oil Prices ◽  
The State ◽  
Price Regulation ◽  
Oil Products ◽  
Foreign Markets ◽  
Oil Market ◽  
Factors Influencing ◽  
Factors Of Influence ◽  
Oil And Oil Products

The article analyzes the state of pricing in the oil market, examines topical issues of assessing the emerging factors of influence both on the domestic and foreign markets. Particular attention is paid to the issues of the emerging situation of supply and demand for oil and oil products, regulation of its production, storage, transportation, processing, formation of sales volumes and income from sales. Highlighted and disclosed the problem of price regulation in the aspects of finding and achieving flexible forms of negotiating prices for oil supply and oil sales, taking into account various options for the volume of oil production.

MODELING OF MULTI-AGENT INTERACTION IN CONSUMPTION SECURING IN CONDITIONS OF INSTITUTIONAL INSTABILITY

2021 ◽  
Vol 2021 (8) ◽  
pp. 3-14
Author(s):  
Anatoliy MOKIY ◽  
◽  
Kateryna ANTONIUK ◽  
Dmytro ANTONIUK ◽  
◽  
...  
Keyword(s):  
Local Governments ◽  
Supply And Demand ◽  
Sustainable Consumption ◽  
The State ◽  
Market Mechanism ◽  
Public Authorities ◽  
Society Business ◽  
Human Needs ◽  
Institutional Instability ◽  
Multi Agent

Theoretical and methodological aspects of research of consumption safety as the ability of the state, society and business to create the preconditions for conscious satisfaction of human needs for self-reproduction to protect the health of the nation and the environment as imperatives for future development are developed. It is proposed to consider the process of consumption securing from the standpoint of harmonizing the interests of society, business and government in forming the basis for sustainable consumption and production in a strategic perspective. The chaos of self-organization processes in the consumer market, as well as the need to combine institutional and market mechanisms in solving the problem of consumption security strengthening in the process of European integration of Ukraine are shown. Systemic means of consumption securing on the basis of harmonization of society, business and the state economic interests with use of the multi-agent approach are developed. Accordingly, a multi-agent model is proposed to identify participants (agents) in the consumption securing process, to formalize the elements, institutional norms, parameters and limitations of their interaction. By building an intelligent map of consumption security, the institutional preconditions, participants of the process of consumption securing, the system of their interests, time parameters of interaction, basic processes, threats and related areas of consumption safety are established. The necessity of using the market mechanism of harmonization of interests of consumption safety subjects (person, society, public authorities and local governments, enterprises-manufacturers, public associations, international organizations, research establishments, etc.) by coordination of the price within the ratio of supply and demand for safe goods (services) with maximizing the convergence of interests as a condition for achieving an equilibrium state of the system is proved.

scholarly journals The role and purpose of the state in the currents of neoliberalism

2020 ◽  
Vol 11 (11) ◽  
pp. 213-219
Author(s):  
Serediuk V. V.
Keyword(s):  
Social Order ◽  
Cultural Policy ◽  
Supply And Demand ◽  
Self Regulation ◽  
Social Practices ◽  
The State ◽  
Market Mechanism ◽  
Economic Relations ◽  
Free Competition ◽  
Role Of The State

The article reveals the theses of neoliberalism - a complex philosophical and scientific course, as well as social practices concerning a new understanding of the role and purpose of the state in the twentieth century. The results of the study are based on an analysis of the works of representatives of German and American neoliberalism. The strong role of the state in the economic sphere, as well as the humanitarian, social and security purpose of the state are described. Neoliberalism was formed in the fields of economics, political science, jurisprudence, international law, philosophy as scientific fields of knowledge and embodied in the economic, social and cultural policy of Western democracies, including the reflection of its doctrinal provisions in the constitutions of European states. Therefore, neoliberalism can be defined as a set of doctrinal currents and social practices, characterized by economic, political, legal and ideological components. Representatives of neoliberalism tried to redefine the role, significance and tasks of the state according to the interwar and postwar economic and political conditions. At the same time, their ideas concerned individual rights and freedoms, the legal social order, as well as the worldview and methodological foundations on which all currents of neoliberalism were based. In August 1938, a conference of neoliberal economists, known as the Lippmann Colloquium, was held in Paris, at which a new concept of the state was essentially formulated. It consisted of the following provisions. First, the state must determine the system of rules within which economic activity is formed, and guarantee their implementation. Secondly, it was recognized at the conference that the market mechanism does not provide automatic self-regulation and balance, and therefore requires some government intervention.The third provision of the conference established that the state had to take only those measures that would ensure the support of free competition. Fourth, the restriction of monopolies was recognized. This idea underlies at the basis of antitrust laws in USA. The fifth point of neoliberalism was the limited intervention of the state in economic relations. It was allowed only temporarily and in cases when the flexibility of supply and demand was violated and the balance on the basis of the price mechanism was lost. The state should not set the price on the market, but should influence the magnitude of supply or demand, thus equalizing prices and preventing sharp fluctuations. As a result, the state in neoliberalism has a strong influence on the economic system by eliminating market monopolies, ensuring free competition, regulating excess supply and demand. Also, one of the leading roles of the state is to carry out activities that do not provide profit in the near future (humanitarian, scientific, medical, environmental spheres). Having created conditions for sustainable economic development, the state has to embody social and security tasks. Keywords: neoliberalism, state, role, order, intervention, economy, law, peace, security, humanitarian and social tasks.

scholarly journals What Microeconomic Fundamentals Drove Global Oil Prices during 1986–2020?

2021 ◽  
Vol 14 (8) ◽  
pp. 391
Author(s):  
Anastasios G. Malliaris ◽  
Mary Malliaris
Keyword(s):  
Neural Network ◽  
Neural Networks ◽  
Financial Crisis ◽  
Global Financial Crisis ◽  
Supply And Demand ◽  
Oil Prices ◽  
Main Hypothesis ◽  
Oil Market ◽  
The Global Financial Crisis ◽  
The Impact

The global financial crisis of 2007–2009 caused major economic disturbances in the oil market. In this paper, we consider five variables that describe the microeconomics of the supply of and demand for oil, and evaluate their importance before, during and after the global financial crisis. We consider five dissimilar regimes during the period of January 1986 to the end of 2020: two regimes prior to the global financial crisis, the regime during the crisis, and two regimes after the crisis. The main hypothesis tested is that oil fundamentals of supply and demand remained important, even though the five regimes were dissimilar. We built five boosted and over-fitted neural networks to capture the exact relationships between spot oil prices and oil data related to these prices. This analysis shows that, while the inputs into an accurate neural network can remain the same, the impact of each variable can change considerably during different regimes.

scholarly journals Market conjuncture and methods of its study on the example of the hotel services market development

2020 ◽  
Vol 210 ◽  
pp. 12003
Author(s):  
Oxana Katerinich ◽  
Tatiana Degtyaryova ◽  
Igor Stolyar ◽  
Irina Usova
Keyword(s):  
Supply And Demand ◽  
The State ◽  
Market Mechanism ◽  
Market Development ◽  
Investment Policies ◽  
Market Structures ◽  
Different Levels

The article deals with the patterns of market conjuncture formation and changes, the nature of the market mechanism. The functioning of market structures in difficult conditions of formation and operation of the market mechanism requires regular assessments of the state of the market and the prospects for its development. The system of sales and purchase relations and the inevitable commercial risk, development of pricing and investment policies, regulation of market processes at different levels of management, etc. – all this requires the organization of constant and deep research of the market mechanism, its patterns and trends, forecasting the proportions of supply and demand.

THE IMPACT OF ENERGY WARS AND GEOPOLITICS ON EXCHANGE RATES AND THE PRICE OF OIL: THE ERA OF THE COVID-19 PANDEMIC

2020 ◽  
pp. 64-71
Author(s):  
M.N. Dudin ◽  
◽  
N.V. Lyasnikov ◽  
A.N. Bryntsev ◽  
◽  
...  
Keyword(s):  
Exchange Rates ◽  
Global Economy ◽  
Supply And Demand ◽  
Oil Prices ◽  
Factors Affecting ◽  
Macroeconomic Conditions ◽  
Oil Market ◽  
The World ◽  
The Cost ◽  
The Impact

Oil will remain the single largest energy source in the world for the foreseeable future, and a balance must be struck between global supply and demand. A serious malfunction of only one large oil producer can lead to a significant change in oil prices and the recession of the entire global economy. The aim of the article is to study the theoretical and empirical aspects of the mutual causality of oil prices and exchange rates, as well as to determine their influence on the development of the world economy. Methodology of the article. To complete this article, a comparative, economic and statistical analysis was used. Results. The article proves that the oil market is more inherent in a tendency towards regionalization rather than globalization. Factors affecting this process include macroeconomic conditions, the balance of supply and demand, the transformation of the regulatory component, changes in the cost structure and the significant influence of geopolitical components. The article justifies the fact that there is a certain strong direct connection between oil prices and exchange rates, but it is influenced by various geopolitical factors (for example, sanctions). Only 4% of the cost of oil is included in the price of gasoline, so when the price of oil falls, the price of gasoline does not decrease. Conclusions. A characteristic feature of the relationship between oil prices and exchange rates is the presence of bilateral mutual causality. Fluctuations in the dynamics of the oil industry are changing the roles of traditional and new suppliers. The oil market environment, which is a key commodity of our time, has a significant impact on world currencies.

scholarly journals Macroeconomic analysis and forecasting of the impact of energy wars and geopolitics on currency rates and oil prices

2020 ◽  
pp. 7-20
Author(s):  
Alexander N. Bryntsev ◽  
Keyword(s):  
Exchange Rates ◽  
World Economy ◽  
Supply And Demand ◽  
Oil Prices ◽  
Close Correlation ◽  
Oil Market ◽  
Macroeconomic Analysis ◽  
Oil Markets ◽  
The World ◽  
The Impact

Subject/topic. In modern conditions, it is advisable to consider geopolitics through the prism of hybrid wars, when the theaters of war have moved from the ocean and land to the world financial and commodity markets. There is a close correlation be-tween changes in exchange rates and the price of oil on the results of energy wars. The aim of the article is to study the theoretical and empirical aspects of the impact of energy wars and geopolitics on the formation of oil prices and the dynamics of currency rates in modern conditions, as well as determining their vector of influence on the development of the world economy as a whole. Methodology of the article. To complete this article, a comparative and economic-statistical analysis was used. Results. The article shows that in the context of globalization of the world economy, there is a deep correlation between changes in currency rates and the price of oil and the consequences of energy wars, on the one hand, and on the other, currency rates and oil prices are the tools for geopolitics in achieving their goals. In addition, there is a fairly strong direct link between oil prices and exchange rates. Factors affecting the formation of the currency exchange and oil markets are sometimes artificial in nature by influencing appropriate macroeconomic conditions, for example, changing the balance of supply and demand. Findings. A macroeconomic analysis of the nature of the relationship between the dynamics of oil prices and currency fluctuations reveals the geopolitical interests of the main players in the oil market, indicating its redistribution. The stage of ousting Russia from the Chinese oil market with dumping prices began, not only with supplies from Saudi Arabia, but also with the active participation of the former partners of Iran and Venezuela, which themselves were under sanctions. The budget of these countries directly depends on oil imports. It is the force majeure circumstances that force them to abandon further partnership with Russia and become independent players in the Chinese hydrocarbon market.

Improvement of the System of Statistical Indicators of the State and Development of the Fuel and Energy Complex of the Russian Federation

2019 ◽  
Vol 26 (12) ◽  
pp. 27-38
Author(s):  
M. R. Еfimova ◽  
N. A. Korolkova
Keyword(s):  
Oil Production ◽  
The State ◽  
Production Costs ◽  
Energy Resources ◽  
Oil Refining ◽  
Steady Increase ◽  
Development Trends ◽  
Energy Complex ◽  
Statistical Indicators

The article proposes an improved system of statistical indicators for assessing the state and development of the fuel and energy complex of Russia, which defines a methodological approach to identifying factors and trends in its development. The introduction highlights the relevance of modernization of information and methodological support for reaching decisions on new tasks, including those related to the digitalization of the economy and implementation of the national projects’ portfolio. The body of the article critically examines the current configuration of official and departmental statistical information, based on which the authors selected 85 key indicators reflecting the state and development level of the fuel and energy complex of Russia. All of them can be delineated by sectors and analysis tasks. This evaluation system includes 7 blocks: general block characterizing the role of the fuel and energy complex in the economic system; key industry performance indicators; indicators of the production structure by industry; technological indicators of industries; prices for fuel and energy resources; production costs by industry; distribution indicators of fuel and energy resources. The paper analyses development trends in the fuel and energy sectors for 2008-2018. In particular, the authors’ research showed that modern oil production is characterized by a change in the territorial structure, as well as the reinstatement of the role of vertically integrated companies in the development of oil production. The article presents findings on the technological upgrading of Russian oil refining. However, the authors’ research proved that oil refining depth has ceased to be a reliable indicator of the level of technological equipment and modernization level of oil refineries. With regard to the development of the gas industry, there has been a steady increase in gas production, which is supported by maintaining a steady increase in demand for Russian gas in the domestic and foreign markets. The all-time high domestic consumer demand for gas fuel, associated with the Russian Regions Gasification Program implemented by the Ministry of Energy of Russia, was recorded. At the same time, the authors identified the main risk factors in the development of the industry related to Gazprom (a backbone of the energy sector) activities. The persistent positive growth dynamics in commodity production of associated petroleum gas was established. It was also noted that the highest percentage of its beneficial use is characteristic of operators of production sharing agreements. As for the results of the analysis of the coal industry, a matter of interest is the growth of domestic prices for coal products and related derivative trends. Particular attention is paid to the development of the possibilities of using over-the-counter coal price indicators. Replacement of coal with natural gas at a thermal power station in most regions of the country is of interest within the identified development trends of the electric power industry in Russia, which is explained by the environmental friendliness of electricity generation.

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