Opinions

The views expressed here are solely those of the author in their private capacity and do not represent the views of OilNOW.

Opinions

Relationship between petrodollar and oil price shocks for Guyana

Bobby Gossai, Jr. -
The crude oil market has a dominant impact on the total connectedness of the crude oil currency-implied volatility relationship, suggesting that crude oil affects currencies more than currencies affect crude oil during oil price volatilities. However, during the crude...
Opinions

Network structure of oil producing countries and the impact of oil price changes

Bobby Gossai, Jr. -
Fluctuations in oil prices have caused oil-producing countries to design policies to control the global oil production and increase oil prices. The Organization of the Petroleum Exporting Countries (OPEC) regularly takes actions to coordinate its members’ oil production decisions...
Opinions

OPINION: Bottom has fallen out for WTI oil prices: close watch on Brent futures for Guyana

Bobby Gossai, Jr. -
West Texas Intermediate crude turned negative today, reaching the lowest on record with its seventh consecutive decline and the biggest fall on record. Chevron and Exxon led losses in the blue-chip index as West Texas oil futures expiring Tuesday...
Opinions

Oil prices, OPEC and non-OPEC oil production: coordination for Guyana

Bobby Gossai, Jr. -
The Organization of the Petroleum Exporting Countries (OPEC) was established in Baghdad in 1960. The founding members were Iraq, Iran, Kuwait, Saudi Arabia and Venezuela. Later on, the following members joined the organization: Qatar, Indonesia, Libya, United Arab Emirates...
Opinions

Understanding the dynamics of the global oil market: OPEC and non-OPEC production

Bobby Gossai, Jr. -
Crude oil is a major component of modern lifestyle. It has played an important role in many world events for over a hundred years. Wars have been fought over crude oil, and energy security is one of the major...
Opinions

Policy interventions for Guyana’s dependency on crude oil and financial implications

Bobby Gossai, Jr. -
In the context of the oil price volatility (OVP), which is occurring, the global dependency on crude oil has serious financial implications; chiefly, trade deficits are now foremost the result of expenditure allocated to crude oil imports. Expenditure devoted...
Opinions

Responses to oil price volatility for Guyana’s emerging oil economy

Bobby Gossai, Jr. -
The occurrence of certain events is probable in the precarious economic environment created by Oil Price Volatility (OPV); inflation and unemployment are both likely to increase, while investment, stock market returns, consumer demand, and industrial production are likely to...
Opinions

Impact of oil price shock on Guyana’s macroeconomic activities

Bobby Gossai, Jr. -
Crude oil is an important source of energy and used in domestic as well as transport and industrial sector widely. This is the reason it is considered as the crucial and important factor of economic development of the country....
Opinions

The potential economic effects of a global pandemic on the Guyanese economy

Bobby Gossai, Jr. -
The global economic activity will be more strongly affected by a pandemic with high infection rates rather than high virulence rates, all else being equal. At the regional level, regions with a higher degree of economic integration with the...
Opinions

Market arrangements for Guyana’s gas supply framework

Bobby Gossai, Jr. -
In a market-oriented framework, it is partly up to customers themselves to determine what degree of security they want – for example, they can install back-up systems, they can physically contract for gas and/or become actual or virtual storage...
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