The goal of the article is to analyze role Saudi Arabia in world oil market and economy for a long historical period. It shown that strategically behavior always was continues be subordinated ensuring stable supply into market. Under leadership OPEC aims at pursuing an economically rational responsible policy, supporting balance demand its thus allow¬ing avoid deep lasting price decline. Until ...

in this paper, a novel hybrid model based on neural network and game theory is proposed to support the analyzers in oil market. in this model, first the neural network is utilized to learn the oil prices associated with opec production level and usa imports level. then the learned neural network is applied by a game model. finally the nash equilibrium points of the game present the optimum deci...

We estimate the effects of unexpected changes in oil prices on output for the case of Venezuela, an oil-exporting economy. Following Hamilton (2003), Lee et al. (1995), and Mork (1989), we estimate measures of oil shocks and determine the effect of these shocks on the Venezuelan economy. Our results suggest that oil shocks have had positive and significant effects on output growth in Venezuela ...

Crude oil is one of the most necessitated worldwide required commodities. Any slight fluctuation in crude oil prices can have both direct and indirect influence on the economy of the countries. The unpredictability of crude oil prices forced many companies away from the competition and it influence the stock market and many other macroeconomic variables (inflation, GDP, Import bill etc). Crude ...