The impact of US shale oil production on the global oil market
| dc.contributor.advisor | Polemis, Michael | |
| dc.contributor.advisor | Πολέμης, Μιχαήλ | |
| dc.contributor.author | Hamamciyan, Liane - Sophie | |
| dc.date.accessioned | 2025-12-17T10:20:49Z | |
| dc.date.available | 2025-12-17T10:20:49Z | |
| dc.date.issued | 2025-06-26 | |
| dc.identifier.uri | https://dione.lib.unipi.gr/xmlui/handle/unipi/18713 | |
| dc.format.extent | 103 | el |
| dc.language.iso | en | el |
| dc.publisher | Πανεπιστήμιο Πειραιώς | el |
| dc.rights | Αναφορά Δημιουργού-Μη Εμπορική Χρήση-Όχι Παράγωγα Έργα 3.0 Ελλάδα | * |
| dc.rights.uri | http://creativecommons.org/licenses/by-nc-nd/3.0/gr/ | * |
| dc.title | The impact of US shale oil production on the global oil market | el |
| dc.type | Master Thesis | el |
| dc.contributor.department | Σχολή Οικονομικών, Επιχειρηματικών και Διεθνών Σπουδών. Τμήμα Διεθνών και Ευρωπαϊκών Σπουδών | el |
| dc.description.abstractEN | This study demonstrates how the US shale revolution fundamentally restructured global oil markets through three structural mechanisms: 1) Introducing price-elastic supply capabilities that reduced OPEC's market-balancing capacity from controlling 75% of global spare capacity (2008) to 58% (2020), 2) Redefining global trade flows through accelerated US energy self-sufficiency that cut net oil imports by 12.4 million b/d (2005-2020) while expanding light crude exports to 3.4 million b/d1, and 3) Creating new geopolitical realities through reduced petrostate leverage, evidenced by 22% decrease in Middle Eastern crude's strategic premium (2010-2020). Empirical analysis reveals shale production contributed 58% of global supply growth 2010-20201, with Permian Basin productivity gains driving 62% improvement in barrels per fracking unit (2016- 2023, Fig.8). The supply elasticity introduced through 6-9 month project cycles1reduced Brent crude volatility by 22% post-2014 price crash compared to previous cycles, while quality arbitrage from light shale exports forced $12-18/bbl discounts for medium/heavy crudes. These transformations established shale as the marginal price-setting barrel, with WTI-Brent spreads narrowing from $27 (2011) to $3 (2023) as infrastructure constraints eased1. The study concludes that shale's structural impacts persist despite cyclical volatility, necessitating revised market models incorporating elastic supply responses and reconfigured petrostate strategies in energy diplomacy. | el |
| dc.contributor.master | Energy: Strategy, Law & Economics | el |
| dc.subject.keyword | Oil market | el |
| dc.subject.keyword | US | el |
| dc.subject.keyword | US shale oil | el |
| dc.date.defense | 2025-12-02 |
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Τμήμα Διεθνών και Ευρωπαϊκών Σπουδών
Department Of International And European Studies
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Αναφορά Δημιουργού-Μη Εμπορική Χρήση-Όχι Παράγωγα Έργα 3.0 Ελλάδα
Αναφορά Δημιουργού-Μη Εμπορική Χρήση-Όχι Παράγωγα Έργα 3.0 Ελλάδα