In international economy, countries are specially importer or pure supplier of crude oil .The OECD and OPEC are the organizations that respectively are considered as the most importer and exporter of crude oil in the world and therefore have a significant role in determ More
In international economy, countries are specially importer or pure supplier of crude oil .The OECD and OPEC are the organizations that respectively are considered as the most importer and exporter of crude oil in the world and therefore have a significant role in determining the oil price .This paper examines the impact strength of each of the organization on the price of crude oil and also estimate the relative bargaining power for determining the price of oil in the game bilateral monopoly market model similar to the prisoners dilemma game model to describe the situation on the oil market between the two organization is presented. In this model ,the price extend in a moment is depend on player bargaining power and player wait rates. In this research, set to empirical and econometric models by using data from 1980 to 2012 and also use the same pattern johansen – juselius and the simultaneous equation system approach. Finding of this research suggest in OECD oil bazaar bargaining power is high and in compare with OPEC received more welfare also, it is possible to design win - win game model based on Rising mutual benefit trade. but because of uncoordinated and heterogeneous character of OPEC,the model cannot be considered as a long term and stable cooperative game
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The Middle East region accounts for the largest quota of the world's energy reserves, which is the reason for the interdependence between the world's largest industrial countries and the governments of this region. Given the known oil reserves of the Arab coun More
The Middle East region accounts for the largest quota of the world's energy reserves, which is the reason for the interdependence between the world's largest industrial countries and the governments of this region. Given the known oil reserves of the Arab countries in the Persian Gulf region, the effect of energy consumption with a sample of five Arab countries as members of OPEC and oil producers of the Persian Gulf region on greenhouse gas emissions during 40 years (1980-2020) was investigated in this research. The energy production and consumption and greenhouse gas emissions of the target countries were studied to identify their contribution to energy production and consumption in the world. It was determined that these countries account for a significant share of climate change and global greenhouse gas emissions. The results show that approximately 34% of the global oil reserves and 22% of carbon dioxide (CO2) production belong to the five Arab countries in the Persian Gulf region. The largest and the lowest shares in CO2 production belong to Saudi Arabia and Kuwait among the five countries of the Persian Gulf region.
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The purpose of this article is to examine the effect of OPEC statements (whether increasing, decreasing or not changing supply) on oil price fluctuations in crude oil markets. For this purpose, conditional heterogeneity and variable control variance models have b More
The purpose of this article is to examine the effect of OPEC statements (whether increasing, decreasing or not changing supply) on oil price fluctuations in crude oil markets. For this purpose, conditional heterogeneity and variable control variance models have been used to investigate the effect of statements on Brent and WTI crude oil price fluctuations during the period 1987-2019 based on the event analysis approach. The findings show that OPEC statements have a significant effect on the turmoil in the oil market, and the type of statements varies on crude oil market fluctuations, and this effect has diminished over time. Based on the results, members' solidarity in the field of planning and coordinated implementation of decisions for maximum impact on the crude oil market is proposed.
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This study deals with the changing trend of producing petroleum by non-member states and its effect on the global price of the petroleum. Using vector error correction model, the hypothesis of this research, i.e., " the petroleum supplied by OPEC non-member states is on More
This study deals with the changing trend of producing petroleum by non-member states and its effect on the global price of the petroleum. Using vector error correction model, the hypothesis of this research, i.e., " the petroleum supplied by OPEC non-member states is one of the factors affecting the price of petroleum in the global markets", have been studied. The period of study starts 1991 to the end of 2006 and the variables are used on a seasonal basis. The results of the static experiment, Johansson convergence test and the vector error correction model suggest that there has been a convergent relationship between the petroleum supply variable in the non-OPEC member states and the price of petroleum both in the long run and short term and there is a negative relationship between the variable of petroleum supply by nonmember states on the variable of price and this proves the hypothesis.
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