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Impact on world oil prices when larger and fewer producers emerge from a political restructuring of the Middle East

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  • Wirl, Franz

Abstract

We investigate how a redistribution of oil reserves among a (probably reduced) set of producers affects OPEC's oil extraction policies and thus international crude oil-prices. The empirical investigation shows that this impact is fairly small, as long as OPEC members do not cooperate. Only cooperation will have a substantial impact.

Suggested Citation

  • Wirl, Franz, 1992. "Impact on world oil prices when larger and fewer producers emerge from a political restructuring of the Middle East," Energy, Elsevier, vol. 17(4), pages 367-375.
  • Handle: RePEc:eee:energy:v:17:y:1992:i:4:p:367-375
    DOI: 10.1016/0360-5442(92)90111-C
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    Cited by:

    1. Movagharnejad, Kamyar & Mehdizadeh, Bahman & Banihashemi, Morteza & Kordkheili, Masoud Sheikhi, 2011. "Forecasting the differences between various commercial oil prices in the Persian Gulf region by neural network," Energy, Elsevier, vol. 36(7), pages 3979-3984.

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