China’s role in the world crude oil market

Crawford School of Public Policy
Photo by Bernard Spragg NZ on Unsplash

Event details

ACDE Seminar

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Date & time

Tuesday 11 May 2021
2.00pm–3.30pm

Venue

Weston Theatre , Crawford School of Public Policy, No 132, Lennox Crossing, The ANU

Speaker

Raymond Li, University of Canberra

World oil prices have experienced a period of sustained strong growth between year 2000 and 2008 before starting its rollercoaster ride in the last decade. Unlike the two oil price shocks in the 1970s, the long oil price hike to the peak in mid-2008 did not come hand-in-hand with major oil production disruptions. Commentaries often associated this oil price growth with various demand-side factors, including the “China factor”, which is echoed by evidence from the academic literature. Being an economic superpower with an economy that is primarily powered by fossil fuels, China is expected to be influential on fossil fuel demand and prices.

This seminar reviews China’s activities and involvement in the world oil market in recent decades. It also presents new empirical results on the influence of Chinese oil imports on the oil price.

Updated:  10 May 2021/Responsible Officer:  Crawford Engagement/Page Contact:  CAP Web Team