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Hedging Based Price Decline Risk Management of Refined Oil Inventory

In: The 19th International Conference on Industrial Engineering and Engineering Management

Author

Listed:
  • Xing Bi

    (University of Tianjin)

  • Yao-long Zhang

    (University of Tianjin)

  • Yan-wei Liu

    (Peking University Health Science Center)

Abstract

Nowadays oil has become an important energy source with both political and economic attributes. Frequent fluctuation of oil demand and price in the international market confronts enterprises with many uncertainties in refined oil inventory management. In order to prevent the risk of oil price decline brought up by those uncertainties, this article analyzed the inventory methods of different refined oil, chose hedging as the method to manage price decline risks of oil inventory, compared the different optimal hedge ratio models, and made empirical analysis to gasoline hedging.

Suggested Citation

  • Xing Bi & Yao-long Zhang & Yan-wei Liu, 2013. "Hedging Based Price Decline Risk Management of Refined Oil Inventory," Springer Books, in: Ershi Qi & Jiang Shen & Runliang Dou (ed.), The 19th International Conference on Industrial Engineering and Engineering Management, edition 127, chapter 0, pages 1249-1257, Springer.
    • Handle: RePEc:spr:sprchp:978-3-642-38433-2_131
    DOI: 10.1007/978-3-642-38433-2_131
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    Keywords

    Hedging; Risk management; OLS;
    All these keywords.

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