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来源类型Papers
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DOIhttps://doi.org/10.26889/9781907555671
OPEC – What Difference has it Made?
Bassam Fattouh; Lavan Mahadeva
发表日期2013-01-23
出版年2013
页码12
语种英语
概述The main purpose of this 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. There are many instances in which OPEC can lose the power to limit oil price movements – […]
摘要The main purpose of this 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. There are many instances in which OPEC can lose the power to limit oil price movements – either up or down. Such changes in pricing power are brought about by market conditions and can occur both in weak and tight market conditions. Because of OPEC’s varying conduct, there is no single model that fits its behaviour and hence analysts have been forced to choose from a wide range of models to explain certain episodes. The empirical literature has not been successful in distinguishing between the various competing models, as these models offer very similar predictions. This paper is forthcoming in the Annual Review of Resource Economics.
主题Energy Policy ; Oil ; Oil & Middle East Programme
关键词Bassam Fattouh Collusion MEP 3 MEP3 Oil Prices OPEC Models OPEC Policy Pricing Power Rent Distribution
URLhttps://www.oxfordenergy.org/publications/opec-what-difference-has-it-made/
来源智库Oxford Institute for Energy Studies (United Kingdom)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/312249
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Bassam Fattouh,Lavan Mahadeva. OPEC – What Difference has it Made?. 2013.
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