Analysis On The Effects And Strategy Of Oil Financialization

In recent years, especially since the 2004, international oil prices hit new peak repeatedly, its frequent fluctuations caused the countries pay high attention to energy security and energy crisis. Accompany with the prices'high vibration, multi-layered oil-trading markets were established, the prices of the futures becomes the important basis of international oil prices, a large amount of financial capital is active in the international oil market, huge capital is supporting the transnational oil company's investment overseas, the international oil markets and financial markets are becoming increasingly related. So to enhance the oil security, it is necessary to analyze the financial problems behind the oil through the intricate situation of oil markets.This thesis takes the oil financialization as the researching object, on the basis of defining its intension, analysis it's characteristic detailed; Secondly, elaborate the cause of it from the following three respects: oil supplying and demanding elasticity, quantity and space distribution of oil supplying and demanding, protect the safety of foreign exchange; And then according to the situation of the international oil markets, describe the prices deciding effect, preserving value effect, aggregation effect and negative effect of oil financialization by the method of econometric model; Finally, according to the effects it generated, use the experiences and lessons of practice in oil financial markets for reference, discuss our country's strategy dealing with it, in order to grasp the right while making the international oil prices and safeguard our country's oil security and the foreign exchange security.