Seminars & webinars
6 February 2014

The drivers behind crude oil production behaviors: an investigation on OPEC and non-OPEC producers


Where: Milan
Location:

Fondazione Eni Enrico Mattei
Corso Magenta 63
20123 Milan

***
Video-conference
at FEEM Venice

How to reach: Google map
Event's Timetable:


h. 13.00 Seminar

Information:

Seminars Office, seminars@feem.it

Speakers:

Niaz Bashiri Behmiri, FEEM, Italy

Abstract

In this study we investigate the determinant factors, including economic and political ones that impact on crude oil production of OPEC members and non-OPEC producers. To achieve this goal, we develop two multivariate production models: the first one investigates the determinant factors behind crude oil production of OPEC member countries, and the second one examines the determinant factors behind crude oil production of non-OPEC producers.

In both models, crude oil production is considered as a dependent variable, followed by a set of explanatory variables such as real crude oil prices, crude oil production by OPEC nations, OPEC quota, domestic investment needs, and crude oil proven reserves; moreover, we consider a group of political events such as wars, revolutions and etc., as exogenous variables of both models. We examine them applying the ARDL bounds testing approach for cointegration. The OPEC countries under this study include Algeria, Indonesia, Iran, Nigeria, Saudi Arabia, Venezuela, Libya and Qatar; and non-OPEC countries include Canada, China, Egypt, Mexico, Norway, the Russian Federation, the United Kingdom, and the United States.

Download file
Download PDF file
Download file
Download PDF file
The drivers behind crude oil production behaviors: an investigation on OPEC and non-OPEC producers

FEEM Newsletter

Subscribe to stay connected.

Your personal data will be processed by Fondazione Eni Enrico Mattei. – data Controller – with the aim of emailing the FEEM newsletter. The use of Your email address is necessary for the implementation of the newsletter service. You are invited to read the Privacy Policy in order to obtain additional information about the protection of Your rights.

This Website uses technical cookies and cookie analytics, as well as “third party” profiling cookies.
If you close this banner or you decide to continue navigating on this Website, you express consent to the use of cookies. If you need additional information or you wish to express selective choices on the use of cookies, please refer to the   Cookie PolicyI agree