Nazer, Yousef; Pescatori, Andreas - 2022
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 …