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      The Value of Opec’s Spare Capacity to the Oil Market and Global Economy

      The Value of Opec’s Spare Capacity to the Oil Market and Global Economy

      Wiley Online Library

      We investigate the extent to which OPEC has succeeded in its self‐stated mission of stabilising the oil market and the implications for the world’s economy. We discuss the modelling framework developed by Pierru, Smith and Zamrik (2018) and Pierru, Smith…

      Hossa Almutairi, Axel Pierru, James L. Smith

      2021
      OPEC’s Pursuit of Market Stability

      OPEC’s Pursuit of Market Stability

      IAEE

      We investigate attempts by the Organization of Petroleum Exporting Countries (OPEC) to stabilize the price of oil during the past fifty years. We first develop a novel decomposition of shifts in global demand and non-OPEC supply. This decomposition provides a…

      Axel Pierru, James L. Smith, Hossa Almutairi