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 maintain current production levels despite the steady increase in non-OPEC oil production…
The report contains about 100 pages of tables, charts and graphs detailing the world’s oil and gas reserves, crude oil and product output, exports, refining, tankers, plus economic and other data.
This paper assesses the impact of oil prices on economic growth of the four major OPEC countries (United Arab Emirates, Kuwait, Saudi Arabia and Venezuela) over the period spanning from 03/09/2000 to 03/12/2010…
The objective of this paper is to promote global energy security by evaluating the existing patchwork of institutions and processes linked to the governance of the global energy economy.
Scholars have long debated the causal impact of international institutions such as the WTO or the IMF. This paper investigates OPEC, an organization that purports to have significant influence over the market for the world’s most important commodity, petroleum. This paper conducts four empirical tests, and finds that OPEC has little or no impact on its members’ production levels…
The paper will argue that US shale oil production would hardly make a dent in the global oil supplies as it would largely offset the decline in US conventional oil production…
The main purpose of this OIES paper is to review the evolution of OPEC models and to link this evolution to some key events in the oil market. Our main conclusion is that OPEC’s pricing power varies over time…
The six Persian Gulf monarchies are home to some of the world’s largest hydrocarbon reserves, and also some of the cheapest energy prices and highest per-capita consumption. Government subsidies based on socio-political objectives have contributed to regime longevity, but they have also stimulated demand for resources comprising the region’s chief export and biggest contributor to GDP. This paper finds that these monarchies – Qatar excepted – face an increasingly acute conflict between maintaining subsidies and sustaining exports…
We study the optimal oil extraction strategy and the value of an oil field using a multiple real option approach. The numerical method is flexible enough to solve a model with several state variables, to discuss the effect of risk aversion, and to take into account uncertainty in the size of reserves…
This Chatham House paper attempts to consider possible future paths for crude oil prices and their implications…
In the midst of a shortage of natural gas, Abu Dhabi has launched an investment into renewable energy. Why? Will renewables allow the Persian Gulf sheikhdom to meet rising electricity demand without simultaneous increases in conventional power?…
New Economics Papers Energy Economics (REPEC)
