UC Davis Agricultural and Resource Economics

Farid Farrokhi, Purdue University

Global Sourcing in Oil Markets

Date and Location

Monday, April 23, 2018, 4:10 PM - 5:30 PM
ARE Library Conference Room, 4101 Social Sciences and Humanities


This paper develops a multi-country general equilibrium model of oil trade to examine the effects of counterfactual policies on oil prices and trade quantities across the world geography. I exploit data on the imports of American refineries, and derive a new procedure allowing for an all-in-one estimation of refineries’ selected suppliers and purchased quantities. I find that the behavior of crude oil markets modestly deviates from an integrated global market, lifting the ban on U.S. crude oil exports creates a notable distributional impact across producers and refineries, and gains from trade in oil are immensely larger than those in benchmark models.

Subscribe to Upcoming Seminars

Click here to receive weekly notice of all upcoming seminars via email.

Individual seminar and workshop announcements are circulated via separate mailing lists. To subscribe, send an email to the relevant list:

Contact Us

2116 Social Sciences and Humanities
University of California, Davis
One Shields Avenue
Davis, CA 95616

Main Office: 530-752-1515
Student Advising Services: 530-754-9536
DeLoach Conference Room: 530-752-2916
Main Conference Room: 530-754-1850