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Sep 01, 1998 · Indeed, as greater reliance is placed upon market forces, crude oil progressively becomes viewed as a commodity like most others, rather than as a so-called `strategic' commodity. A pertinent issue is how oil price fluctuations compare with those of other commodities. Verleger (1993)(p. 23) has argued that: oil prices aregenerally more crude oil poble square large withcompetitive priceThe role of natural gas as a primary fuel in the near crude oil poble square large withcompetitive priceApr 23, 2012 · Crude oil: $0.65. The crude oil costs are largely determined by crude-oil suppliers, the Organization of the Petroleum Exporting Countries (OPEC) in particular. OPEC is composed of 13 countries, based largely in the Middle East, and is responsible for 40% of the world's oil production and holds the majority of the world's oil reserves.Long- and short-run price asymmetries and hysteresis in crude oil poble square large withcompetitive priceIn the literature there are a number of examples that disentangle foreign currency price of crude oil and exchange rate (for example Asplund et al., 2000;Polemis, 2012; and Bagnai and Ospina, 2015

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