OPEC. One would expect the benefits of cartel membership to be positively related to the size of remaining reserves, while … econometric analysis indicates that larger reserves and lower consumption are positively associated with OPEC membership. On the …

This paper studies the historical importance of OPEC for oil price fluctuations. An event-study approach is used to … identify the effects of OPEC announcements on oil price fluctuations. Results show that price volatility is higher than typical … around OPEC meetings. Also, members' compliance, a proxy for credibility, has strongly fluctuated over time. An ordered …