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Demand for Oil Products in the GCC Countries

Author

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  • Abdul-Razak Al-Faris

    (Economic Policy & Affairs Unit, Dubai Council for Economic Affair, Government of Dubai)

Abstract

The purpose of this study is to estimate the short and long-run income and price elasticities of oil product consumption in the GCC countries. Annual data spanning the period 1970-91 were fitted to a partial adjustment model to obtain the estimates. The main finding of the study is that both price and income are relatively inelastic in the short run, with a great variation in these elasticities among fuels and across countries.

Suggested Citation

  • Abdul-Razak Al-Faris, 1996. "Demand for Oil Products in the GCC Countries," Working Papers 9608, Economic Research Forum, revised 03 1996.
    • Handle: RePEc:erg:wpaper:9608
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