a r t i c l e i n f o JEL classifications: C51 N70 Keywords: Crude oil price volatility GARCH Covariates Modified dummy variables OPEC announcements WTI crude oil Several times a year, OPEC hosts conferences among its members to agree on further oil production policies. Prior to OPEC conferences, there is usually rampant speculation about which decision concerning world oil production levels (n...

In November 2014, OPEC announced a new strategy geared towards improving its market share. Oil-market analysts interpreted this as an attempt to squeeze higher-cost producers including US shale oil out of the market. Over the next year, crude oil prices crashed, with large repercussions for the global economy. We present a simple equilibrium model that explains the fundamental market factors th...

The US Department of Energy’s Energy Information Administration recently predicted that world oil production could continue to increase for more than three decades, based on the recent US Geological Survey (USGS) evaluation of world oil resources and a simple, transparent model. However, it can be shown that this model is not consistent with actual oil production records in many different regio...

One of the objectives of OPEC is the security of demand for the crude oil exports of its members. Achieving this objective is imperative with the projected decline in OECD countries' crude oil demand among other crude oil demand shocks. This paper focuses on determining the external crude oil demand security risks of OPEC member states. In assessing these risks, this study introduces two indexe...

Oviduct epithelial cells are important for the nourishment and survival of ovulated oocytes and early embryos, and they respond to the steroid hormones estrogen and progesterone. Endocrine-disrupting polyhalogenated aromatic hydrocarbons (PHAH) are environmental toxins that act in part through the ligand-activated transcription factor arylhydrocarbon receptor (AhR; dioxin receptor), and exposur...

after second world war, demand for oil increased and in 1970s reached to its maximum growth. and naturally, providing this level of demand depended on much more import from opec, especially from middle eastern members. contemporaneous, in the early 1970s, some opec governments stopped granting new concessions and starting to claim equity participation in the existing concessions, with a few of ...