expanding a model for crude oil prices to include refinery utilization rates, a non-linear effect of OPEC capacity utilization …

In a simplified theoretical framework we model the strategic interactions between OPEC and non-OPEC producers and the … implications for the global oil market. Depending on market conditions, OPEC may find it optimal to act either as a monopolist on … the residual demand curve, to move supply in-tandem with non-OPEC, or to offset changes in non-OPEC supply. We evaluate …

Between January 2017 and March 2020 a coalition of oil producers led by OPEC and Russia (known as OPEC+) cut oil … coalition, as members did not agree on keeping the oil market tight in the face of a large negative demand shock. Yet, was OPEC …+ actually effective in sustaining the price of oil? Between 2017 and early 2020 when the OPEC+ strategy was in place, oil …