This work explores the relationship between price of crude oil and its production through an empirical study on regions Organization Petroleum Exporting Countries (OPEC) non-Organization (non-OPEC). The has recently been fluctuating greatly that it cannot be predicted; this fluctuation causes changes in prices raw materials for everyday life, thus affecting economy worldwide. To better understa...

This paper estimates a dynamic model of the world oil market and tests whether OPEC countries colluded and whether non-OPEC countries behaved oligopolistically over the period 1970-2004. The model generates estimates of the shadow price of the resource with minimal functional form assumptions. Results support oligopolistic behavior among non-OPEC producers and collusion among OPEC producers exc...

The world oil market is modelled as a two-person non-zero-sum game in normal form with each player having a continuum of strategies. The two players are the oil importing nations (OPIC) and the oil exporting nations (OPEC). The game is solved in the noncooperative sense using the equilibrium point solution concept due to Nash. The Nash equilibrium point solution yields an analytic expression fo...

A range of energy-economy models forecast losses to members of the Organisation of Petroleum Exporting Countries (OPEC) should the Kyoto Protocol come into force. These forecasts are a powerful influence in the United Nations Framework Convention on Climate Change negotiations. They are used by OPEC to advance the agenda on the impacts of response measures, covertly arguing for compensation for...

This paper contributes to the discussion of role that terrorism plays in oil production and prices literature by studying dynamics terrorist attacks OPEC. To this purpose, we use techniques based on fractional integration, cointegration VAR (FCVAR) wavelet analysis. Monthly data related OPEC production, basket crude from January 1970 December 2018 are used. The results, using integration techni...

BACKGROUND Global warming is attracting attention from policy makers due to its impacts such as floods, extreme weather, increases in temperature by 0.7°C, heat waves, storms, etc. These disasters result in loss of human life and billions of dollars in property. Global warming is believed to be caused by the emissions of greenhouse gases due to human activities including the emissions of carbon...