Torabi, Morteza

[ 1 ] - Future of the World Oil Market with an Expanding Role of Shale Oil: A System Dynamics Approach

In this paper, we develop a dynamic system model to predict the effects of shale oil production on demand and supply of oil.  We study the interaction between demand and supply of OPEC and non-OPEC member countries and supply of shale oil, oil price, growth of the global economy, development of new oil reserves and  alternative energies. In our model, OPEC acts passively and covers the market d...