This article contributes to the debate about the impact of the U.S. fracking boom on U.S. oil imports, on Arab oil exports, and on the global price of crude oil. First, I investigate the extent to which this oil boom has caused Arab oil exports to the United States to decline since late 2008....

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...

Some observers have conjectured that oil supply shocks in the United States and in other countries are behind the plunge in the price of oil since June 2014. Others have suggested that a major shock to oil price expectations occurred when in late November 2014 OPEC announced that it would...

The goal of this paper is to analyze the impact of OPEC's oil price level versus oil supply strategy on the country's gross domestic product (GDP) growth rate. Our motivation comes from a fundamental dilemma facing OPEC nations. Its members need to choose between the traditional OPEC cartel...

Between January 2017 and March 2020 a coalition of oil producers led by OPEC and Russia (known as OPEC+) cut oil production in an attempt to raise the price of crude oil. In March 2020 the corona virus shock led to a collapse of this coalition, as members did not agree on keeping the oil market...

We use a novel approach to identify how OPEC-related events affect oil price uncertainty. We introduce a newspaper article count variable related to OPEC that rises in response to important OPEC meetings, as well as political upheaval and terrorist attacks in OPEC countries. The variable is...

This paper proposes a novel approach to study the macroeconomic effects of oil prices, exploiting institutional features of OPEC and high-frequency data. Using variation in futures prices around OPEC announcements as an instrument, I identify an oil supply news shock. These shocks have...

Some observers have conjectured that the steep decline in the price of oil between June and December 2014 resulted from positive oil supply shocks in the second half of 2014. Others have suggested that a major shock to oil price expectations occurred when in late November 2014 OPEC announced...

Petroleum Exporting Countries in the crude oil exports have single-product, in other words income from selling oil or as the most imortant source of export income, or at least as one of the most imortant sources of income is considered to be exported.The analysis and policy issues macro-economic...

Petroleum Exporting Countries in the crude oil exports have single-product, in other words income from selling oil or as the most important source of export income, or at least as one of the most important sources of income is considered to be exported.The analysis and policy issues...