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The Behavior of Core OPEC Members During Normal and Exceptional Periods in the World Oil Markets
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Abdolhamid Moarefi mohammadi *1   , Hadi Amiri , Issac Qassemi |
| 1- , a.h.mohammadi@ase.ui.ac.ir |
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Abstract: (3802 Views) |
The behavior of OPEC's main exporter, Saudi Arabia and OPEC's core members (Kuwait, Qatar, and UAE) are of concern to Iran and other oil importing or exporting countries. Excess oil production capacity of OPEC's core countries lets them to have different behavior in normal and exceptional periods. In this paper, we apply a modified griffin’s model to seasonal data for the 2000-2018 period to estimate production of core members using the ARDL method. Empirical results show that Qatar’s exports in the normal period are coordinated with other members but in exceptional periods (wars, sanctions,…) is not coordinated with the rest of OPEC countries. But the other OPEC core members (Kuwait and UAE) have the same coordination in normal and exceptional periods.
JEL Classification: Q41, Q47, Q49
Keywords: OPEC, Oil Market, ARDL, OPEC's core |
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| Keywords: OPEC, Oil Market, ARDL, OPEC's core |
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Full-Text [PDF 7515 kb]
(1143 Downloads)
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Type of Study: Research |
Subject:
Oil-Market
Received: 2020/02/2 | Accepted: 2020/09/5 | Published: 2020/11/30 | ePublished: 2020/11/30
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