This article examines the real convergence hypothesis in OPEC countries (Algeria, Angola, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates and Venezuela) using time series techniques and allowing for structural breaks. The main results show lack of support for income convergence in OPEC countries. We only find evidence of catch-up with the...

11’ HE quadrupling of OPEC oil prices in late 1973 and early 1974 had a profound and permanent impact on the U.S. economy. The initial impact was an explosion in the prices of most goods and services, as well as the longest and most severe decline in national output since the 1930s. The recession trough occurred over two years ago and the rate of inflation has fallen substantially since 1974. W...

the organization of the petroleum exporting countries (opec) has a key role in making universal political and economic decisions regarding petroleum. therefore, it seems highly important to assess the opec member’s degree of concentration and its monopoly.  this research, aims to assess and classify the concentration of petroleum export in the opec countries during the 1997-2011 period by the h...

With the changes that have taken place in energy-related technologies, United States has been less affected by geopolitical risks associated with supply of fossil fuel energy resources, especially crude oil. When price oil is low, situation U.S. contrasts other oil-producing countries, which are facing financial pressure due to low prices and a high domestic demand. Many countries supplying com...

In 2000 the price of crude oil rose to levels not seen for more than 20 years, and as a result so did the price of oil products. The price hikes prompted public debate about the level of taxes determining the final prices paid by consumers. By one estimate, taxes accounted for 68 percent of the final price in the European Union in 2000 (OPEC 2000). But what about developing countries, where pet...

We estimated oil supply from hydraulically fractured horizontal wells completed in North Dakota March 2015 through May 2019. modeled impacts on production of price, capital costs, technological progress, well-to-well interference, and location. Two models were developed: One considered to be a continuous stream (omitting gaps) the other allowed that may discontinuous, with starts, shut-ins, re-...

Given the discovery of resource wealth, which factors account for future economic success and which factors hinder success? This case study compares two countries which discovered oil wealth in the late 1960s: Ecuador and Norway. The analysis gives the economic and political context and then compares three bodies of resource curse literature that relate to economic success. The study ultimately...

Abstract Research background: The aim of this paper is to examine the long run relationship among oil prices and Algerian Dinar exchange rate over period January 1995–February 2020 in Algeria as one most important oil-exporting countries OPEC members. Purpose: This study investigated co-integration between by testing long-run two variables their positive negative shocks. methodology: applied bo...