As a typical nonlinear and dynamic system, the crude oil price movement is difficult to predict and its accurate forecasting remains the subject of intense research activity. Recent empirical evidence suggests that the multiscale data characteristics in the price movement are another important stylized fact. The incorporation of mixture of data characteristics in the time scale domain during th...

Scheduling of crude oil operations is an important and complex routine task in a refinery. It involves crude oil unloading, tank allocation, storage and blending of crudes, and CDU charging. Optimal crude oil scheduling can increase profits by exploiting cheaper but poor quality crudes, minimizing crude changeovers, avoiding ship demurrage, and managing crude inventory optimally. In our previou...

A remarkable feature of the crude oil market is a dramatic rise in oil price volatility over time which has been accompanied by a substantial fall in oil production volatility. We investigate the sources of this opposite evolution of both oil market variables. Our main …nding is that the observed volatility puzzle can be rationalized by the fact that the price elasticities of both oil supply an...

The major oil industry upstream activities include the exploration, drilling, extraction, pipelines installation, and production of crude oil. In this paper, we develop a mathematical model to plan for theseoperations as a crude oil supply chain network design problem.The proposed multi-period mixed integer linear programming model entails both strategic (e.g., facility location and allocation)...

abstract: this paper discusses two topics. at first, it uses continuous wavelet (morlet) transform, coherency, and phase angle analysis to study the effect of mean volatility in opec crude oil prices, wti crude oil prices, brent crude oil prices and iran’s crude oil prices on the iran’s reer. to this end, the monthly data of the variables for years 2003 to 2012 is used. coherency analysis revea...

Could propane from Alaska’s North Slope reduce energy costs for electric utilities and residential space heating, water heating, and cooking demands? We explored the hypothesis that propane is a viable alternative for fourteen selected communities along the Yukon and Kuskokwim Rivers, coastal Alaska, and Fairbanks. Our analysis forecasts propane and fuel prices at the wholesale and retail level...

It is a great honor to have this opportunity to speak to you today about Japan's current monetary policy. With the aim of achieving its 2 percent price stability target, the Bank of Japan (hereafter the Bank) adopted quantitative and qualitative monetary easing (QQE) in April 2013. QQE was expanded further in October 2014. This was because of the potential risk that a decline in the consumer pr...

American U.S. crude oil prices have dropped significantly of late down to a low of less than $30 a barrel in early 2016. At the same time price volatility has increased and crude in storage has reached record amounts in the U.S. America. Low oil prices in particular pose quite a challenge for the survival of U.S. America’s tight-oil industry. In this paper we assess the current profitability an...