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Can a Cartel Fuel the Engine of Economic Development? Opec and the Macroeconomics of Oil

Noguera, Jose de Jesus - 2013

- a clear indication of OPEC's failure to meet their development goals. Thus, we ask if a resource cartel can achieve the … an oil cartel or remain in the fringe, we find that, in a highly elastic oil market, a profit maximizing cartel is … optimal for an oil-exporting country that cares adequately about macroeconomic stability to join the cartel. But for a country …

Persistent link: https://www.econbiz.de/10012711091

OPEC and Non-OPEC Oil Production and the Global Economy

Ratti, Ronald A. - 2015

Hamilton identifies 1973 to 1996 as “the age of OPEC” and 1997 to the present as “a new industrial age.” During 1974-1996 growth in non-OPEC oil production Granger causes growth in OPEC oil production. OPEC oil production decreases significantly with positive shocks to non-OPEC oil...

Persistent link: https://www.econbiz.de/10013031954

Issues in Domestic Petroleum Pricing in Oil-Producing Countries

Gupta, Sanjeev; Clements, Benedict; Fletcher, Kevin Timothy - 2021

This paper discusses issues relating to the domestic pricing of petroleum in oil-producing countries. It finds that in most major oil-exporting countries, government policies keep domestic prices below free-market levels, resulting in implicit subsidies that equaled 3.0 percent of GDP, on...

Persistent link: https://www.econbiz.de/10013317852

The relationship between economic growth, oil production, energy consumption and carbon dioxide emissions: evidence from selected OPEC countries

Anh Tru Nguyen - In: Journal of contemporary economic and business issues 7 (2020) 1, pp. 5-20

The article aims to investigate the relationship between economic growth, oil production, energy consumption and CO2 emissions in five OPEC countries for the last four decades (1978-2017). We found that per capita energy consumption has a negative relationship with per capita GDP while per...

Persistent link: https://www.econbiz.de/10012268070

The influence of OPEC+ on oil prices : a quantitative assessment

Quint, Dominic; Venditti, Fabrizio - 2020

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...

Persistent link: https://www.econbiz.de/10012271582

OPEC in the news

Plante, Michael - 2018 - Current version: February 2018

This paper introduces a newspaper article count index related to OPEC that rises in response to important OPEC meetings and events connected with OPEC production levels. I use this index to measure how interest in OPEC varies over time and investigate how oil price volatility behaves when the...

Persistent link: https://www.econbiz.de/10011880504

Strategic interactions and price dynamics in the global oil market

Alonso Alvarez, Irma; Di Nino, Virginia; Venditti, Fabrizio - 2020

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...

Persistent link: https://www.econbiz.de/10012154179

Crude oil : market trends and simulations point toward stable equilibrium

Zaklan, Aleksandar; Ansari, Dawud; Kemfert, Claudia - In: DIW economic bulletin 7 (2017) 51/52, pp. 567-573

In this study, we report on the current state of the international market for crude oil. The market data we analyzed indicate that competition has intensified as a result of the now firmly-established shale oil extraction industry in the U.S. Model-based simulations also show that supply-side...

Persistent link: https://www.econbiz.de/10011770445

The role of oil prices in exchange rate movements : the CIS oil exporters

Hasanov, Fakhri; Mikayilov, Jeyhun; Bulut, Cihan; … - In: Economies : open access journal 5 (2017) 2, pp. 1-18

Undoubtedly, oil prices play a crucial role in the macroeconomic performances of oil-exporting developing countries. In this regard, the exchange rate is one of the key macroeconomic indicators worthy of investigation. Existing literature shows that world oil prices play an important role in the...

Persistent link: https://www.econbiz.de/10011753820

Will oil prices decline over the long run?

Kaufmann, Robert Kurt; Karadeloglou, Pavlos V.; Di … - 2008

At present, oil markets appear to be behaving in a fashion similar to that in the late 1970s and early 1980s when oil prices rose sharply over an extended period. Furthermore, like at that time, analysts are split on whether such increases will persist or reverse, and if so by how much. The...

Persistent link: https://www.econbiz.de/10011639811