The general theory of storage suggests that the level of inventories is a key factor in determining the structure of the oil futures curve, or the basis, over time. The basis is the difference between the price of oil in the futures market and the price of oil in the spot market. As an indicator of future price movements, the basis follows a different dynamic when inventories are in scarce supply or in surplus. This means that there are several different market states that reflect different underlying crude oil market conditions.
![Jennifer Considine](https://wscdn-01.kapsarc.org/wp-content/uploads/2018/06/Jennifer-Considine_cropped_small-150x150.jpg)
Visiting Senior Research Fellow
Dr. Considine is an Honorary Senior Research Fellow at the CEPMLP in Scotland, where she has developed courses and seminars…
Dr. Considine is an Honorary Senior Research Fellow at the CEPMLP in Scotland, where she has developed courses and seminars on various topics related to the energy industry. She has published a book and several papers on energy politics, world oil market projections, and the Russian oil economy and its future role in the global energy market. She has also consulted for several energy companies and organizations, such as Coastal Corp. Ecopetrol, ANR Pipeline Company, Husky Energy, Pieridae Energy, and the University of Texas at Austin School of Law. She is passionate about advancing knowledge and understanding of the energy sector and its complex dynamics. Dr. Considine holds a Ph.D. in Economics from the University of Aberdeen and a master’s degree in Economics from the University of Chicago.
Expertise
- World oil and inventories
- Commodity trading and technology
- Russian oil industry
- Econometrics options pricing
- Commercial strategies
Publications See all Jennifer Considine’s publications
![Is the Shale Oil Rush Over?](https://wscdn-01.kapsarc.org/wp-content/uploads/2023/11/pdf-200779-page-1.jpg)
Is the Shale Oil Rush Over?
The general theory of storage suggests that the level of inventories is a key factor…
20th November 2023![The Effects of a Shock to Critical Minerals Prices on the World Oil Price and Inflation](https://wscdn-01.kapsarc.org/wp-content/uploads/2023/11/1-s2.0-S0140988323X00115-cov200h.gif)
The Effects of a Shock to Critical Minerals Prices on the World Oil Price and Inflation
The general theory of storage suggests that the level of inventories is a key factor…
1st November 2023