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OPEC news announcements: Effects on oil price expectation and volatility

  • Schmidbauer, Harald
  • Rösch, Angi
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    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 (no change, increase, or cut) will be announced. The purpose of our investigation is to assess the impact of OPEC announcements on expectation and volatility of daily oil price changes (returns).

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    File URL: http://www.sciencedirect.com/science/article/pii/S0140988312000072
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    Article provided by Elsevier in its journal Energy Economics.

    Volume (Year): 34 (2012)
    Issue (Month): 5 ()
    Pages: 1656-1663

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    Handle: RePEc:eee:eneeco:v:34:y:2012:i:5:p:1656-1663
    Contact details of provider: Web page: http://www.elsevier.com/locate/eneco

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    6. Lin, Sharon Xiaowen & Tamvakis, Michael, 2010. "OPEC announcements and their effects on crude oil prices," Energy Policy, Elsevier, vol. 38(2), pages 1010-1016, February.
    7. Franz Wirl and Azra Kujundzic, 2004. "The Impact of OPEC Conference Outcomes on World Oil Prices 1984-2001," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1), pages 45-62.
    8. OPEC Secretariat, 2003. "OPEC production agreements: a detailed listing," OPEC Energy Review, Organization of the Petroleum Exporting Countries, vol. 27(1), pages 65-77, 03.
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    11. Robert K. Kaufmann, Stephane Dees, Pavlos Karadeloglou and Marcelo Sanchez, 2004. "Does OPEC Matter? An Econometric Analysis of Oil Prices," The Energy Journal, International Association for Energy Economics, vol. 0(Number 4), pages 67-90.
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