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      OPEC’s Impact on Oil Price Volatility: The Role of Spare Capacity
      Future of Global Oil Markets

      OPEC’s Impact on Oil Price Volatility: The Role of Spare Capacity

      Energy Journal

      OPEC claims to hold and use spare production capacity to stabilize the crude oil market. We study the impact of that buffer on the volatility of oil prices. After estimating the stochastic process that generates shocks to demand and supply,…

      Axel Pierru, Tamim Zamrik

      2018