• Focus Area Future of Global Oil Markets Future of Global Oil Markets
  • Type Report
  • Date 22 November 2023
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Abstract

The collapse of crude oil prices in 2020, driven by the effects of COVID-19, the recovery packages implemented in 2021 to overcome the crisis, and the recent geopolitical conflicts in 2022, have marked a distinctive three-year period in the oil market. Furthermore, the public discontent regarding high record prices has spurred collaboration between KAPSARC, the Institute of Energy Economics, Japan (IEEJ), and the Italian Association of Energy Economics (AIEE). Together, they have compiled a dataset aimed at elucidating how the prices of gasoline and diesel evolved during this three-year span and which factors played a more significant role in determining the prices.

Presented at a country level on a monthly basis, the data facilitates the identification of structural variations in gasoline and diesel prices across different OECD regions, as well as in China and India.

Authors

Julio Arboleda

Research Fellow Julio is an economist and civil engineer with over 20 years of experience in the energy field. His experience includes… Julio is an economist and civil engineer with over 20 years of experience in the energy field. His experience includes energy policy and data analysis for international organizations, governmental advisory services, and the construction of energy projects. Julio also has a passion for sustainable energy and project management, both supported by his postgraduate studies. Before joining KAPSARC, Julio worked as a senior energy consultant within different organizations. For over seven years, during his position as energy policy analyst at OPEC, he was one of the major contributors to the OPEC World Oil Outlook (WOO). His experience in both the governmental and private sectors, in the field and office, allows him to understand the dynamics of the energy sector.

Expertise

  • Energy Market Analysis and Outlook
  • Oil Market Forecast
  • Energy Policies Impact
  • Technology Developments and Alternative Energy Technologies

Publications See all Julio Arboleda’s publications

Zlata Sergeeva

Research Associate Zlata leads “The Future of Hydrocarbons in a Carbon-Managed World” project, aimed at estimating the consequences of international carbon regulation… Zlata leads “The Future of Hydrocarbons in a Carbon-Managed World” project, aimed at estimating the consequences of international carbon regulation for hydrocarbon markets, with producers starting to offer carbon-neutral LNG and carbon-neutral oil cargos. Previously, Zlata worked in the Energy Center of the Skolkovo Business School, where she researched natural gas and LNG markets and organized the international Energy Summer School for several hundred participants from all over the world. Later, she joined the Business Strategy Department in NOVATEK, Russia’s leading independent gas producer, where her main focus was on strategic forecasting and international cooperation in LNG, hydrogen and CCUS. Since 2020, Zlata has also been a member of the Future Energy Leaders Programme of the World Energy Council.

Expertise

  • Carbon-Neutral Trade of Hydrocarbons
  • LNG
  • Carbon Markets
  • Hydrogen
  • Energy Policy
  • Energy Transition in Conventional Economies

Publications See all Zlata Sergeeva’s publications

Cian Mulligan

Senior Research Associate Cian contributes to the KAPSARC initiative on Productivity and Economic Diversification in Saudi Arabia. His current work focuses on economic… Cian contributes to the KAPSARC initiative on Productivity and Economic Diversification in Saudi Arabia. His current work focuses on economic diversification in Saudi Arabia, labor dynamics in GCC countries, gender employment gaps in the GCC, and policy recommendations for Saudi Vision 2030 goals. Before joining the center, he worked as an energy analyst in Vienna. Most recently, he served as the editor of Intereconomics Review of European Economic Policy in Hamburg, where he worked with academics all over the world to publish and promote diverse research topics for a policy-oriented readership.

Expertise

  • Labor Economics
  • Demography
  • Policy analysis.

Publications See all Cian Mulligan’s publications

Carlo Andrea Bollino

Visiting Researcher Carlo Andrea Bollino is a Professor of Economics at the University of Perugia and Professor of Energy Economics at the… Carlo Andrea Bollino is a Professor of Economics at the University of Perugia and Professor of Energy Economics at the University LUISS, Rome. He holds a Ph.D. in Economics from the University of Pennsylvania, where he was supervised by Nobel laureate Professor Lawrence Klein. He has been a Visiting Researcher at KAPSARC since 2015, focusing on econometric analysis, electricity market reform and climate change policy analysis. He is a Visiting Professor at Technische Universität, Berlin, Germany, the President (honorary) of the Italian Association for Energy Economics. He was the President of the IAEE in 2008, the President of GSE (Italian Renewable Energy Agency) and GRTN (Italian Electric Transmission network); Energy Advisor to the Minister of Industry and Ministry of Treasury of Italy; Chief Economist, ENI; Economist, Bank of Italy; and a Research Associate at Project Link for the United Nations. He has testified to the Italian Senate and Parliament briefings and has provided various governments with technical and policy reports on electricity market liberalization and renewable energy developments.

Expertise

  • Consumer Behavior
  • Investment
  • Energy and Environment
  • Macroeoconometric Modeling

Publications See all Carlo Andrea Bollino’s publications

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