The U.S. shale oil, market forces and export ban
Author
Taneri, İlayda
Advisor
Berument, Hakan
Date
2020-08Publisher
Bilkent University
Language
English
Type
ThesisItem Usage Stats
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Abstract
Shale oil revolution after 2011 changed both the U.S. and world oil markets. In this
thesis the market determinants of a shale oil production – Frac Count for the U.S is
studied. The empirical evidence suggests that a positive shock to NYMEX, S&P500,
rig count, WTI and the U.S. stocks increase the Frac Count but higher interest rate
and the U.S. total oil production decrease Frac Count. After the U.S. became one of
the major oil producers, it removed its crude export ban in December 2015. The
empirical evidence also suggests that the shale oil industry gets more integrated with
the financial system and be more efficient in its production process in the post 2016
era after the export ban has been removed.
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