representing oil supply with an aggregate of OPEC and non-OPEC production because they likely use different criteria to chose … represented as levels. The results suggest that OPEC and nonOPEC nations use different criteria to set output and that reductions … (increases) in OPEC production raise (lower) oil prices. The elements of the cointegrating relations, their loadings, and impulse …

digit. It is hypothesized that price clustering occurs within an established TPZ if OPEC is able to defend the upper and … capacity utilization is high and when production significantly exceeds quotas, consistent with OPEC's inability to defend the …

The aim of this paper is to determine if OPEC acts as a cartel by testing whether the production decisions of the … both time series and panel settings, our findings show that the OPEC influence has evolved through time, following the … changes in the oil pricing system. While the influence of OPEC is found to be important just after the counter-oil shock, our …

during 1975–2011, focusing on potential differences between OPEC and non-OPEC countries. The goal is to derive consistent … average over the sample period, OPEC members seem to curtail production in response to a speculative demand shock, whereas non-OPEC …

We develop a conceptual model that captures OPEC pricing behavior, and apply it to explain the large gap observed … between domestic fuel prices in OPEC countries and prices in the rest of the world. We model OPEC as a cartel of nations, not … cartel-of-nations model suggests that introduction of alternatives to petroleum products may lead OPEC to reduce exports and …