Publications: Papers

QE and Oil Prices (The International Economy, Spring 2015)

 

Most oil market observers believe the impetus for the 2014-2015 crude oil price collapse began on November 27, 2014, Thanksgiving Day in the United States. On that date, Saudi Arabian officials left a meeting of OPEC members and informed the world that their country would not cut production as many had expected. As Dr. Verleger explains in this paper, this is a convenient but incorrect explanation.