Artículos de revistas: "Petroleum exporting countries"

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Szira, Zoltán, Alghamdi Hani y Erika Varga. "Examining the Impact of Oil Price Change on the Economy through GDP Change". Acta Carolus Robertus 9, n.º 2 (2019): 149–59. http://dx.doi.org/10.33032/acr.2019.9.2.149.

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Petroleum economics is the field that studies human utilization of petroleum resources and the consequences of that utilization. Petroleum use allows the production of energy. Resources can be regarded as renewable or depletable; petroleum falls into the latter category, which can have an effect on pricing strategies. Crude oil is one of the main natural feedstocks used to meet energy demands and price variation has a significant influence on the society development. A large amount of research suggests that oil price fluctuations have considerable consequences on economic activity. These consequences are expected to be different in oil importing and in oil exporting countries. Whereas an oil price increase should be considered positive news in oil exporting countries and negative news in oil importing countries, the reverse should be expected when the oil price decreases. The paper investigates the co-movements and causality relationship between oil prices and GDP of selected oil exporting countries. Our assumption is decreasing oil prices have a negative impact on the GDP of such countries.

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Lyons, Charles. "The Organization of the Petroleum Exporting Countries (OPEC) (www.opec.org)". Journal of Business & Finance Librarianship 14, n.º 2 (abril de 2009): 181–87. http://dx.doi.org/10.1080/08963560802362609.

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Mehrara, Mohsen. "The Relationship between Non-Oil Trade and GDP in Petroleum Exporting Countries". International Letters of Social and Humanistic Sciences 12 (octubre de 2013): 63–70. http://dx.doi.org/10.18052/www.scipress.com/ilshs.12.63.

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This paper investigates the causal relationship between non-oil international trade and the GDP in a panel of 11 selected oil exporting countries by using panel unit root tests and panel cointegration analysis. A three-variable model is formulated with oil revenues as the third variable. The results show a strong causality from oil revenues and economic growth to trade in the oil exporting countries. Yet, non-oil trade does not have any significant effects on GDP in short- and long-run. It means that it is the oil and GDP that drives the trade in mentioned countries, not vice versa. According to the results, decision makings should be employed to achieve sustainable growth through higher productivity and substantially enlarging the economic base diversification in the future.

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Lebovic, James H. y Kingsley W. Hill. "Organization of petroleum exporting countries: The sources of trade partner diversification". International Interactions 14, n.º 4 (septiembre de 1988): 343–72. http://dx.doi.org/10.1080/03050628808434714.

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Pop, Viorel. "Petroleum – Strategic Resource for World Economy". Studia Universitatis „Vasile Goldis” Arad – Economics Series 28, n.º 2 (1 de junio de 2018): 70–85. http://dx.doi.org/10.2478/sues-2018-0010.

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Abstract Petroleum is the most important resource for global energy production, far exceeding the role of coal and natural gas, the role of river energy and wind energy, and also the role of nuclear fuel. All highly industrialized countries are making great efforts to ensure the energy needs of the functioning of economies under the conditions of fierce global competition. None of the world’s first 10-12 economies can give up on petroleum imports, and the exporting countries benefit from large financial resources from petroleum. Saudi Arabia, Qatar, United Arab Emirates, Venezuela, Russia and other petroleum-rich countries secure themselves significant foreign revenue for their economic development, defense and overall well-being.

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Bahramgiri, Mohsen, Shahabeddin Gharaati y Iman Dolatabadi. "Modeling jumps in organization of petroleum exporting countries basket price using generalized autoregressive heteroscedasticity and conditional jump". Investment Management and Financial Innovations 13, n.º 4 (29 de diciembre de 2016): 196–202. http://dx.doi.org/10.21511/imfi.13(4-1).2016.05.

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This paper uses autoregressive jump intensity (ARJI) model to show that the oil price has both GARCH and conditional jump component. In fact, the distribution of oil prices is not normal, and oil price returns have conditional heteroskedasticity. Here the authors compare constant jump intensity with the dynamic jump intensity and evidences demonstrate that oil price returns have dynamic jump intensity. Therefore, there is strong evidence of time varying jump intensity Generalized Autoregressive Heteroscedasticity (GARCH) behavior in the oil price returns. The findings have several implications: first, it shows that oil price is highly sensitive to news, and it does settle around a trend in long-run. Second, the model separates variances of high volatilities from smooth volatilities. Third, the model rejects an optimal path for extracting oil and technology transmission. In fact, the lack of a long-term pattern can cause excessive oil extracting which can result in heavy climatic effects. Keywords: generalized autoregressive heteroscedasticity (GARCH), jumps, basket, oil price, Organization of Petroleum Exporting Countries (OPEC), Autoregre-ssive jump intensity (ARJI). JEL Classification: C32, C52, F31

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Okombi, Idrys. "Relationship Between Growth and Unemployment in Petroleum Exporting Countries: Case of Congo". jurnal ekonomi dan studi pembangunan 11, n.º 1 (26 de marzo de 2019): 14–27. http://dx.doi.org/10.17977/um002v11i12019p014.

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Majidi, Ali Fegheh, Hojatollah Hashembeigi, Parvin Alimoradi Afshar y Vahid Hashembeigi. "Determinant of FDI: Evidence from Organization of the Petroleum Exporting Countries (OPEC)". Asian Economic and Financial Review 7, n.º 3 (2017): 258–66. http://dx.doi.org/10.18488/journal.aefr/2017.7.3/102.3.258.266.

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Saboori, Behnaz, Usama Al-mulali, Maizan Bin Baba y Abdul Hakim Mohammed. "Oil-Induced environmental Kuznets curve in organization of petroleum exporting countries (OPEC)". International Journal of Green Energy 13, n.º 4 (6 de noviembre de 2014): 408–16. http://dx.doi.org/10.1080/15435075.2014.961468.

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Al-Mawali, Nasser. "The growth-IPRs nexus in OPEC member countries: an empirical investigation". Investment Management and Financial Innovations 13, n.º 2 (3 de junio de 2016): 92–98. http://dx.doi.org/10.21511/imfi.13(2).2016.10.

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This study employs a parsimonious model of economic growth to investigate the impact of intellectual property rights (IPRs) protection on the economic growth of Organization of the Petroleum Exporting Countries (OPEC) member countries. The growth model is estimated in the context of the Hausman-Taylor estimation technique in an annualized panel data framework. The principal finding suggests that IPRs per se are not an important factor in explaining the economic growth of OPEC member countries. However, the interaction between IPRs and trade has exerted a positive and significant impact on the economic growth of OPEC member countries

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DAVOOD BEHBUDI, AZHDAR KARAMI y SIAB MAMIPOUR. "NATURAL RESOURCE ABUNDANCE, HUMAN CAPITAL AND ECONOMIC GROWTH IN THE PETROLEUM EXPORTING COUNTRIES". Journal of Economic Development 35, n.º 3 (septiembre de 2010): 81–102. http://dx.doi.org/10.35866/caujed.2010.35.3.004.

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Fubara, Bedford A. "The ethics of Nigeria's proposed withdrawal from the organisation of petroleum exporting countries". Journal of Business Ethics 5, n.º 4 (agosto de 1986): 327–32. http://dx.doi.org/10.1007/bf00383100.

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Azami, Somayeh y Shabnam Almasi. "ENERGY CONSUMPTION AND SUSTAINABLE ECONOMIC WELFARE: NEW EVIDENCE OF ORGANIZATION OF PETROLEUM EXPORTING COUNTRIES". International Journal of Energy Economics and Policy 10, n.º 5 (10 de agosto de 2020): 31–40. http://dx.doi.org/10.32479/ijeep.9435.

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14

Burke, Edmund y Paul Lubeck. "Explaining Social Movements in Two Oil-Exporting States: Divergent Outcomes in Nigeria and Iran". Comparative Studies in Society and History 29, n.º 4 (octubre de 1987): 643–65. http://dx.doi.org/10.1017/s0010417500014821.

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If one were to survey social movements in the last decade that were inextricably linked to global socioeconomic processes, the significant social movements that have emerged in Islamic oil-producing countries could hardly escape notice. Since nine oil-exporting states possess Muslim majorities, there appears to be an objective relationship between the global consequences of the post–1973 oil-price revolution and the socioeconomic transformation of Muslim populations. Although most Muslim states experienced social movements in this period, it is clear that in the oil-producing Islamic countries, the particular social impact and institutional location of petroleum rents greatly intensified the disruption of urban social networks. Indeed, the cases of Shi‘ite Iran and Muslim northern Nigeria indicate how this disruptive element may have contributed to Islamic revolutionary movements which, though having quite distinct goals, ideologies, and social bases, remain inexplicable without analyzing the consequences of the petroleum boom on the relationship between state and society.

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Amuzegar, Jahangir. "JAMES BAMBERG, British Petroleum and Global Oil, 1950–1975: The Challenge of Nationalism (Cambridge: Cambridge University Press, 2000). Pp. 665. $130.00." International Journal of Middle East Studies 33, n.º 4 (noviembre de 2001): 652–54. http://dx.doi.org/10.1017/s002074380142407x.

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This book is essentially the third volume on the history of British Petroleum (BP) from 1901 to 1975, which the author has tried to present on its own, to be read with or without reference to the previous two volumes. It deals with three phases of BP's developments during 1950–75, starting with the 1950–54 period of Iranian oil-nationalization crisis, the 1955–70 phase of growth and internationalization, and finally the 1974–75 takeover by the Organization of Petroleum Exporting Countries (OPEC). The author has been BP's “official historian” for years, and the company's “History Committee” has approved the present study.

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ZHANG, Chi. "Changes in the Global Energy Strategic Landscape: Implications for China’s International Strategic Environment". East Asian Policy 07, n.º 03 (julio de 2015): 73–85. http://dx.doi.org/10.1142/s179393051500029x.

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The global energy strategic landscape is undergoing significant changes. Factors leading to such changes include the eastward shift of the world energy consumption centre, the emergence of the United States as a major oil producer and the dramatic waning of the Organisation of Petroleum Exporting Countries’ influence. These developments are shaping a new order of the global energy system and exerting profound influence on China’s international strategic environment.

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Akinkunmi, Mustapha A. "Monetary policy decisions in selected Organization of Petroleum Exporting Countries economies: does Taylor's principle matter?" OPEC Energy Review 41, n.º 2 (junio de 2017): 115–31. http://dx.doi.org/10.1111/opec.12097.

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Öztürkoğlu, Ömer y Oyewale Lawal. "The integrated network model of pipeline, sea and road distribution of petroleum product". An International Journal of Optimization and Control: Theories & Applications (IJOCTA) 6, n.º 2 (24 de julio de 2016): 151–65. http://dx.doi.org/10.11121/ijocta.01.2016.00277.

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Nigeria ranks high among the community of oil producers both in the world. It is, therefore, paradoxical that Nigeria, with such profile in Organization of Petroleum Exporting Countries (OPEC) statistics finds it difficult to optimize its supply distribution while spending so much money on transportation and distribution. This paper thus reviews the petroleum product supply and distribution systems in the country. Thus, we develop a single period, single product deterministic mathematical model to effectively distribute the product to the end user through the most effective channel to the interest of the economy of the country. In our model, we first consider a perfect condition in the petroleum industry irrespective of the production crises and conflicts like pipeline vandalism, communal instability. We then consider different scnearios that presumes several breakdown cases in pipeline connection to anaylze the survivability of the network of petroleum distribution.

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Badaruddin, Muhammad. "Indonesia Rejoining OPEC: Dynamics of the Oil Importer and Exporter Countries". JAS (Journal of ASEAN Studies) 3, n.º 2 (28 de enero de 2016): 116. http://dx.doi.org/10.21512/jas.v3i2.841.

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Reactivation of Indonesia’s full membership to the Organization of the Petroleum Exporting Countries (OPEC) triggered discussion surrounding global petroleum governance. The country which decided to suspend its full membership at the end of 2008, currently labelled as net oil importer. However, in OPEC terms Indonesia never really left, instead of the organization termed it as a "suspension”. Departing from the abovementioned context and perspectives, purpose of this essay is to answer the questions about the significance of the Indonesia’s membership reactivation to OPEC, and the strategic context of the reactivation in the current global oil market. In answering these questions, this article draws the dynamics of the relation of Indonesia and OPEC through the history in the first part and explores Indonesia’s interests in rejoining OPEC in the second one. In the third part, this essay will explore the possible benefit for OPEC as an organization as well as for its member countries could achieve by approving Indonesia’s request to reactivate its membership, despite its status as a net oil importer.

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Zeddam, Ahmed Amine, Mohamed Driouche Dahmani y Abdelatif Hamrit. "Informal Sector and International Capital Movement: New Evidence from Some Petroleum Countries". Economics and Business 35, n.º 1 (1 de enero de 2021): 117–32. http://dx.doi.org/10.2478/eb-2021-0008.

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Abstract The main aim of this paper is to investigate the effect of the informal economy (IE) on foreign direct investment (FDI) in a sample of petroleum producing countries (Algeria, Norway, the Russian Federation, Saudi Arabia and United States) based on data covering the period of 1991–2018 and using the Non-linear Autoregressive Distribution Lag (NARDL) model. The NARDL model was built separately for each country in the study sample. The main finding of this study is the impact of IE size on FDI inflows in all of the countries in the study sample, even if they are all producing and exporting countries. The empirical results lead to distinguish between two sub-groups. The first sub-group consists of countries whose FDI inflows have been positively affected by positive and negative shocks in the IE. These countries are characterised by a high share of natural resources in their GDP. The second sub-group consists of countries whose inward FDI has been positively affected by negative shocks in the IE and negatively affected by the positive ones. The most common feature of this subgroup is the relative independence of economics from natural resources.

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Djelloul, Benanaya y Badreddine Talbi. "The Impact Of Oil Production On Economic Growth In OPEC Countries: Evidence From The Panel Approach". Journal of Applied Business Research (JABR) 33, n.º 2 (1 de marzo de 2017): 257–62. http://dx.doi.org/10.19030/jabr.v33i2.9897.

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This paper examines the causal relationship between oil production and economic growth in the Organization of the Petroleum Exporting Countries OPEC: Algeria, Angola, Ecuador, Islamic Republic of Iran, Iraq, Nigeria, Qatar, Saudi Arabia, UAE, and Venezuela, with annual time series data, from 1994 to 2013. A panel cointeration approach is suitable technique to examine oil production -economic growth nexus. Empirical results show that oil production variable and economic growth are cointegrated for these countries. Furthermore, we find by FMOLS approach and PMG model that for the panel as a whole there are statistically significant feedback effects between these variables which supports the energy conservation policies as a policymaker.

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Rose, Euclid A. "OPEC's Dominance of the Global Oil Market: The Rise of the World's Dependency on Oil". Middle East Journal 58, n.º 3 (1 de julio de 2004): 424–43. http://dx.doi.org/10.3751/58.3.15.

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This article examines the rise of the world's dependency on oil and the Organization of Petroleum Exporting Countries' (OPEC) dominance of the global oil market during the 1970s, OPEC's fall in the 1980s, and its resurgence in the 1990s. It contends that efforts by the Global North's countries to conserve fuel and to develop alternative energy sources have proved a much more arduous task than at first thought. Although there has been some progress in this area, OPEC continues to dominate the world oil market in the twenty-first century, as global demand for and dependence on oil continue to rise. A call is issued for solutions.

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Bassil, Charbel, Hassan Hamadi y Marion Bteich. "Terrorism in OPEC countries and oil prices". International Journal of Emerging Markets 13, n.º 6 (29 de noviembre de 2018): 1732–50. http://dx.doi.org/10.1108/ijoem-11-2017-0493.

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Purpose The purpose of this paper is to examine the impact of terrorism in the Organization of the Petroleum Exporting Countries (OPEC) on the return and volatility of world price of oil. Design/methodology/approach GARCH models and daily data from 1987 till 2015 will be used. Findings The empirical results reveal that terrorism in the OPEC affects positively oil returns and negatively its volatility. Results also show that the different characteristics of the attacks are likely to have different impact on the return and volatility of oil prices. In overall terms, terrorism has a much larger positive impact on the return of oil prices and negative impact on its volatility if it targets the oil industry in the OPEC. This marginal effect is even greater if those attacks were successful. Originality/value The distinguishing feature of this paper is that the authors use a framework that takes into account different attributes for terrorism the success of the attacks, the intensity of the attacks and the associated targets.

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Ftiti, Zied, Khaled Guesmi, Frédéric Teulon Teulon y Slim Chouachi. "Relationship Between Crude Oil Prices And Economic Growth In Selected OPEC Countries". Journal of Applied Business Research (JABR) 32, n.º 1 (31 de diciembre de 2015): 11. http://dx.doi.org/10.19030/jabr.v32i1.9483.

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The aim of this study is to examine the degree of interdependence between oil prices and economic activity growth for four major countries (United Arab Emirates, Kuwait, Saudi Arabia, and Venezuela) in the Organization of the Petroleum Exporting Countries (OPEC) over the period from 3 September 2000 to 3 December 2010. We propose the frequency approach of Priestley and Tong (1973), which is the evolutionary co-spectral analysis. This method offers a time-varying dynamic correlation measure for different horizons, short-run and medium-run. To complete our study by analyzing long-run dependence, we use the cointegration procedure developed by Engle and Granger (1987). We show that oil price shocks in periods during period of fluctuations in the global business cycle and/or financial turmoil affect the relationship between oil and economic growth in OPEC countries.

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Rørbæk, Lasse Lykke. "Islamic Culture, Oil, and Women's Rights Revisited". Politics and Religion 9, n.º 1 (15 de febrero de 2016): 61–83. http://dx.doi.org/10.1017/s1755048315000814.

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AbstractAccording to recent research, oil abundance is the principal explanation for women's poor human rights record in many Muslim societies. However, this study argues that resistance to gender equality in the Muslim world originates in its specific historical trajectory and that the critical juncture precedes the extraction of oil by a thousand years. The study assesses data on women's economic, social, and political rights in 166 countries from 1999–2008 and shows that whereas the negative effect of oil is driven by the 11 members of the Organization of Arab Petroleum Exporting Countries, Muslim countries consistently underperform even when oil and gas rents and other relevant factors such as income and democracy are accounted for. The study concludes that persisting orthodox tendencies in Islamic culture provide the best explanation for Muslim women's limited empowerment.

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Larchenko, Lyubov Vasilievna, Roman Aleksandrovich Kolesnikov y Liliya Mukhametova. "Russian oil and gas industry as a sphere of international interests and economic cooperation". E3S Web of Conferences 161 (2020): 01006. http://dx.doi.org/10.1051/e3sconf/202016101006.

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Russia’s oil and gas resources fall within the sphere of interests of Western European and a number of Asian countries, mainly China, for which a stable supply of the economy with hydrocarbon raw materials is the most important factor in the development of the economy. At the same time, the vast majority of resources are located in the North and the Arctic zone of Russia. Under conditions of considerable uncertainty in the energy markets, international cooperation between the countries of the Organization of Petroleum Exporting Countries and Russia to regulate the functioning of the industry has deepened. The article shows that in the context of reduced resources, complicating mining conditions, coordination of efforts to conduct joint fundamental research work is necessary. Further successful economic cooperation should be based on the harmonization of the economic interests of all stakeholders.

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Olajide, Johnson Taiwo, Jubril Oluwatoyin Fantola y Olufemi Aderemi Ayansola. "Measuring economic growth in OPEC countries : A panel data approach". International Journal of Applied Mathematical Research 4, n.º 2 (30 de abril de 2015): 345. http://dx.doi.org/10.14419/ijamr.v4i2.4544.

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Most of the developing and under-developed countries have been facing a lot of challenges on the issue of economic growth, despite the fact that they are endowed with both natural and human resources. This study examines the determinants of real per Capita GDP growth in Organization of the Petroleum Exporting Countries (OPEC) using a panel of twelve countries for the period of 1986 and 2010.The pooled Ordinary Least Squares (OLS), Fixed Effect (FE) and Random Effect (RE) models were employed to assess the relationship between CGDP and other economic variables used. The result showed that price level of consumptions (pc) and investment share (ci) are the important factors of CGDP that contribute to the economic growth of OPEC countries. The result also established that exchange rate (Xrat), price of GDP (p), purchasing power parity (ppp) and ci have a positive influence on CGDP. The test statistic revealed that Random Effects Model (REM) estimator is more efficient than OLS and that there is no significance difference between Fixed Effects Model (FEM) and REM estimators.

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Kalashnikov, Nikolay. "Cuba – EU: the difficult way to cooperation". Contemporary Europe 100, n.º 7 (31 de diciembre de 2020): 155–65. http://dx.doi.org/10.15211/soveurope72020155165.

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The article explores the development of relations between Cuba and the European countries during the postsoviet period. Having lost the access to the markets of the USSR and the European socialist countries, Cuba objectively was interested in finding new partners both for the replacement of the sources of industrial goods delivery and for exporting its own products. European countries seemed to be an adequate substitution of Russia (except petroleum products delivery). The article highlights how the economic interests of the EU to enter the capacious Cuban market contradicted principals of democracy and human rights. That was the reason for freezing periodically the progress in the economic links. The main obstacle for the bilateral economic cooperation was the EU Common Position, approved in 1996. The cancellation of the EU Common Position, together with developing of bilateral relations of individual countries enables the EU to become a strategic economic partner of Сuba. The analysis of the bilateral partnership provides better understanding how Cuban leaders act on the international scene.

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Rasoulinezhad, Ehsan. "China’s foreign trade policy with OPEC member countries". Journal of Chinese Economic and Foreign Trade Studies 10, n.º 1 (6 de febrero de 2017): 61–81. http://dx.doi.org/10.1108/jcefts-09-2016-0027.

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Purpose The purpose of this paper is to analyze specifications of the China’s foreign trade policy with Organization of the Petroleum Exporting Countries (OPEC) member countries. Design/methodology/approach The paper conducts three panel data estimations (fixed effect [FE], random effect [RE] and fully modified ordinary least squares [FMOLS]) based on the gravity model approach for bilateral trade patterns in natural resource and non-natural resource commodities between China and 13 OPEC members over the period of 1998-2014. Findings The findings reveal that the gravity equation fits the data reasonably well. The existence of long-term relationships between the bilateral trade flows and the main components of gravity model – GDP, income (GDP per capita), the difference in income, exchange rate, the openness level, distance and WTO membership – through the FE, RE and the FMOLS approaches was confirmed. The estimation results show that the trade pattern between China and OPEC member countries relies on the Heckscher–Ohlin theory, thus being explained by difference in factor endowments such as energy resources and technology. Originality/value To the best of the authors’ knowledge, this is the first attempt to examine the China’s foreign trade policy with the OPEC member countries through a gravity trade approach.

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Colgan, Jeff D. "The Emperor Has No Clothes: The Limits of OPEC in the Global Oil Market". International Organization 68, n.º 3 (2014): 599–632. http://dx.doi.org/10.1017/s0020818313000489.

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AbstractScholars have long debated the causal impact of international institutions such as the World Trade Organization or the International Monetary Fund. This study investigates Organization of Petroleum Exporting Countries (OPEC), an organization that purports to have significant influence over the market for the world's most important commodity–petroleum. Using four empirical tests, I find that OPEC has little or no impact on its members' production levels. These findings prompt the question of why so many people, including scholars, believe in OPEC's influence over the world's oil supply. The idea of OPEC as a cartel is a “rational myth” that supports the organization's true principal function, which is to generate political benefits for its members. One benefit it generates is international prestige. I test this idea using data on diplomatic representation and find that OPEC membership is associated with increased international recognition by other states. Overall, these findings help one to better understand international regimes and the process of ideational change in world politics.

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Kudriakov, D. F., T. M. Mazurchuk y D. R. Grinchenko. "SCENARIOS FOR THE DEVELOPMENT OF THE RUSSIAN OIL INDUSTRY IN MODERN CONDITIONS". Scientific Journal ECONOMIC SYSTEMS 13, n.º 2 (2020): 139–45. http://dx.doi.org/10.29030/2309-2076-2020-13-2-139-145.

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In the scientific work, a study is carried out of possible scenarios for the development of the Russian oil industry in modern non-stationary economic and political conditions. The hydrocarbon market is undergoing significant changes, largely accompanied by sharp price fluctuations and an excess of supply over demand, so it is important to assess under what conditions the Russian oil industry will be able to maximize its benefits. The aim of the study is to build objective scenarios for the development of the Russian oil industry and its position in the global hydrocarbon market. It also assesses the potential contribution of the Russian Federation to the reduction of oil production in the framework of the renewed OPEC+ transaction involving new oil exporting countries, as well as the combined effect of the agreements affecting oil prices. For making objective forecasts, internal factors are taken into account, among which are: access to hard-to-recover reserves, discovery and development of new deposits, investments in intensification of production, as well as external factors: agreements to reduce production by exporting countries, the impact of the coronavirus pandemic (Covid-19) on the volume of sales of petroleum products, political and other economic conditions that have a direct impact on the global hydrocarbon market. The actual basis of the work is the forecasts of independent experts, analytical agencies, state statistical services, as well as reporting by oil companies in Russia and foreign countries.

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Alt, James E., Randall L. Calvert y Brian D. Humes. "Reputation and Hegemonic Stability: A Game-Theoretic Analysis". American Political Science Review 82, n.º 2 (junio de 1988): 445–66. http://dx.doi.org/10.2307/1957395.

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We develop and explicate a game-theoretic model in which repeated play, incomplete information, and reputation are major elements. A significant advance of this model is the way it represents cooperation under incomplete information among rational actors of different sizes. The model is used to formalize certain aspects of the “theory of hegemonic stability.” It shows that the “dilemma” or “limits” of hegemonic stability look like natural attributes of games where reputation is involved, unifying both “benevolent” and “coercive” strands of hegemony theory. An example, drawn from recent developments in the Organization of Petroleum-exporting Countries, shows how our model of reputation guides the study of hegemonic regime construction. We conclude by comparing the nature of cooperative behavior under conditions of complete and incomplete information.

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Saady Mahmood Abaas, Mlaabdal, Olena Chygryn, Oleksandr Kubatko y Tetyana Pimonenko. "Social and economic drivers of national economic development: the case of OPEC countries". Problems and Perspectives in Management 16, n.º 4 (2 de noviembre de 2018): 155–68. http://dx.doi.org/10.21511/ppm.16(4).2018.14.

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This paper examines the economic relationships between oil price volatility and socially-economic development of 14 Organization of the Petroleum Exporting Countries (OPEC) using the annual panel data for the period 1990–2014 obtained from the World Bank (WB) statistical data sets. Hausman specification test has been performed to choose the method of panel data analysis, and the results were in favor of fixed effects estimation. The main findings indicate the direct relationship between economic growth and oil price volatility. The research supports the hypothesis that an increase in crude oil prices is positively related to GDP, and a 10% increase in oil prices correlates with 0.6-4% GDP improvements. Structural changes in employment in favor of service sector are negatively correlated with GDP per capita. Changes in GDP structure in favor of oil rents on 10% lead to the shrinking of GDP on 1%. Life expectancy at birth, as an indirect indicator of health, positively influences the economic growth indicators and an improvement in life expectancy on one percentage leads on average to 1% growth in GDP and 0.5-1.33% growth in GDP per capita. Energy efficiency improvements are positive drivers of GDP values at OPEC, and our findings suggest that a 10% increase at GDP per unit of energy use leads to 3% increase of GDP itself. The study recommends investing in energy efficiency, human capital, and capital formation to guarantee long-run economic development and prosperity of OPEC counties.

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Faisol, Wildan. "Arab Saudi dan Krisis Harga Minyak Tahun 2014-2016 [Saudi Arabia and the Oil Price Crisis of 2014-2016]". Verity: Jurnal Ilmiah Hubungan Internasional (International Relations Journal) 10, n.º 19 (13 de noviembre de 2018): 13. http://dx.doi.org/10.19166/verity.v10i19.1307.

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This article explains the Saudi Arabian oil crisis of 2014-2016. In 2014, the Organization of Petroleum Exporting Countries (OPEC) had been expected to cut production to stabilize the market and control the price of oil,but instead of reducing their own production, Saudi Arabia pushed OPEC to let the market control the price of of oil. This raised the question of why Saudi Arabia led the OPEC push to let the price decline. The purpose of this article is to understand the reasons behind Saudi Arabia’s efforts as prices plummeted fron 2014 until 2016. This paper explores Saudi Arabia as the de facto leader of OPEC using geopolitical purposes to influences the rest of OPEC and to weaken their opponents including Iran, Iraq and Russia.

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Ewa, Uket E., Wasiu A. Adesola y Etim N. Essien. "Impact of Tax Revenue on Economic Development in Nigeria". International Business Research 13, n.º 6 (8 de mayo de 2020): 1. http://dx.doi.org/10.5539/ibr.v13n6p1.

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There has been conflicting preposition as to the extent of tax contribution to the development of Nigerian economy. This study is to determine the impact of taxation proceeds on the development of Nigerian economy. The study explored the impact of three tax income streams – Income tax from companies’ profits, income tax from petroleum companies profits  and Value Added Tax on economic development represented by Gross Domestic Product (at current basic prices) growth for the period 1994 to 2018. The study applied Ordinary Least Square statistical tool with the help of SPSS 20.0. The study revealed a positive relationship with a coefficient of determination of 99.2% of the variation in economic development attributable to the tax income streams studied. Also although the study revealed the existence of significant effect of taxes from companies’ profits and Value Added Tax on Gross Domestic Product Growth, there is little or no significant impact of taxes on profits of Petroleum companies on Gross Domestic Product growth in Nigeria due to restriction by Organization of Petroleum Exporting Countries production ceiling on Nigeria’s production/sales and the global price shocks of crude oil over the decade. Also the study revealed tax payers apathy to tax payment and presence of tax leakages due to corruption and administrative inefficiencies by the tax authorities.

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Jang, Peter Y. y Mario G. Beruvides. "Time-Varying Influences of Oil-Producing Countries on Global Oil Price". Energies 13, n.º 6 (17 de marzo de 2020): 1404. http://dx.doi.org/10.3390/en13061404.

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This paper aims to investigate the time-varying influences of major crude oil-producing countries on Brent oil prices, with seven-panel data over the observation years of 1998 to 2018. We create seven panels with 36 monthly data for each and estimate the contributions of individual producing countries to oil price changes with a multivariate regression technique of ordinary least squares. Most existing researches have focused on identifying relationships among oil price, market fundamental factors, macroeconomic variables, and geopolitical events in broad perspectives. However, this paper undertakes a longitude/panel analysis of nine oil producers’ influences, with the Organisation for Economic Co-operation and Development (OECD) consumption and the U.S. Dollar Index (USDX) on oil prices in each panel and intends to identify which producers have statistically significant influencing weights on oil prices. We believe that this research contributes to the body of knowledge in better understanding the relative impacts of major oil-producing countries. Results show empirical evidences that the Organization of the Petroleum Exporting Countries (OPEC) production stayed as the greatest negative influence on the oil price in the periods of Panel 2 (2001–2003) and Panel 7 (2016–2018) only, while the U.S. Dollar Index took over the OPEC’s influencing role in most of the other periods, followed by Iran, the U.S., and China.

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Khan, Abdullah, Haruna Chiroma, Muhammad Imran, Asfandyar khan, Javed Iqbal Bangash, Muhammad Asim, Mukhtar F. Hamza y Hanan Aljuaid. "Forecasting electricity consumption based on machine learning to improve performance: A case study for the organization of petroleum exporting countries (OPEC)". Computers & Electrical Engineering 86 (septiembre de 2020): 106737. http://dx.doi.org/10.1016/j.compeleceng.2020.106737.

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Adewuyi, Adeolu O. y Joseph O. Ogebe. "The validity of uncovered interest parity: Evidence from african members and non-member of the organisation of petroleum exporting countries (OPEC)". Economic Modelling 82 (noviembre de 2019): 229–49. http://dx.doi.org/10.1016/j.econmod.2019.01.008.

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39

Birky, Alicia K., John D. Maples, James S. Moore y Philip D. Patterson. "Future World Oil Prices and the Potential for New Transportation Fuels". Transportation Research Record: Journal of the Transportation Research Board 1738, n.º 1 (enero de 2000): 94–99. http://dx.doi.org/10.3141/1738-11.

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World petroleum demand is projected to continue increasing after the world enters the 21st century. The Energy Information Administration (EIA) forecasts low world oil prices for the indefinite future despite an expected 54 percent rise in consumption by the year 2020. In its reference case, EIA also assumes an 80 percent increase in Organization of the Petroleum Exporting Countries (OPEC) oil production over the same time period. In contrast to this, a popular world oil market projection model demonstrates that OPEC could increase its production profitability significantly by substantially slowing the rate of its expanded production. However, OPEC’s potential market control also is influenced by the prospective availability of fuels produced from natural gas, especially remote unconventional natural gas resources. The unconventional natural gas resource is potentially enormous compared with all other fossil fuels combined. Considerations of energy security, greenhouse gas curtailment, emissions control, and cost will act to dictate widespread production and use of these unconventional reserves. Estimates are provided for the amount of alternatives that might be available at various oil prices. Because of cost considerations, much of this added production is likely to occur outside the United States.

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Cordova, M. L. "Impacts of North-South Cooperation on World Regional Growth: A Simulation". Environment and Planning C: Government and Policy 4, n.º 2 (junio de 1986): 221–31. http://dx.doi.org/10.1068/c040221.

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Under the optic of North-South cooperation, the impacts that optimistic policies and assumptions have on future economic growth of centrally planned economies, nations of the Organization of Petroleum Exporting Countries (OPEC), less developed nations (excluding OPEC nations), and developed capitalist nations are examined using a simulation of a four-region world econometric model, COLD. Special focus is given to developing and developed regions, and it is suggested that the level of effort required to implement a North-South cooperation is relatively modest and economically viable for the donor developed region while being significant for the development of the recipient less developed region. The conclusion suggests that—being morally correct—North-South cooperation, if wisely and creatively implemented, may have a favorable economic effect on the donor region while helping decisively to improve the situation of the Third World.

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41

Gault, John y Nordine Ait-Laoussine. "OPEC: Still an ‘Instrument of Change’?" Journal of World Energy Law & Business 13, n.º 4 (23 de junio de 2020): 343–52. http://dx.doi.org/10.1093/jwelb/jwaa029.

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Abstract The Organization of Petroleum Exporting Countries (OPEC) marks its 60th anniversary in 2020. At the time of OPEC’s 20th anniversary in 1980, the organization could celebrate its role as an “instrument of change” that promoted not only members’ interests but also the interests of broad constituencies, including especially developing countries. OPEC and its members had demonstrated how to overcome the negative economic consequences of colonialism, and sought to extend their success to others through the New International Economic Order adopted by the United Nations in 1974. But from the late 1970s onward, the Organization became focused on internal issues of oil market management and, despite its noble expressions and intentions, was unable to bring about the global changes it sought. Today, on OPEC’s 60th anniversary, the central challenge is no longer how to overcome the colonial economic legacy. Instead, the organization has an opportunity to resume its leadership role by adopting policies that defend not only its own members but also broad constituencies—and especially developing countries—against the consequences of global warming. This article suggests how OPEC could rise to the occasion.

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42

Elyassi, Hamid. "Survival of OPEC and Saudi–Iran Relations—A Historical Overview". Contemporary Review of the Middle East 5, n.º 2 (3 de abril de 2018): 137–55. http://dx.doi.org/10.1177/2347798918762199.

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In their attempt to stay the tide of falling oil prices, in November 2016, the Organization of Petroleum Exporting Countries (OPEC) producers decided to cut back output with some members, notably Iran, being exempted from the scheme. The collective decision had the approval of Saudi Arabia at a time when its decades-old rivalry with Iran was escalating into bloody proxy wars, at least partly financed by the two governments’ oil revenues. As such, the hostility between the two countries had cast doubt on OPEC’s power of effective intervention in the oil market and even its very survival. Yet, not for the first time in its history, the organization escaped the fate of many similar associations of states which have fallen victim to internal political squabbles. What has been the secret of the survival of this particular entity and what lessons it may have for preserving existing international associations of nations? This article discusses these questions in the light of the history of OPEC and relations between Saudi Arabia and Iran as rival regional powers and founding members of the organization.

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Karamelikli, Huseyin, Guray Akalin y Unal Arslan. "Oil exports and non-oil exports". Journal of Economic Studies 44, n.º 4 (11 de septiembre de 2017): 540–51. http://dx.doi.org/10.1108/jes-01-2016-0015.

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Purpose The purpose of this paper is to examine the dynamic relationship between oil exports, non-oil exports, imports and economic growth in the Organization of Petroleum Exporting Countries (OPEC), covering the period 1972-2013 by using panel data analysis. Design/methodology/approach The results from the dynamic panel data methods are as follows: there exists the cross-sectional dependence on each variable. According to the cross-sectionally augmented panel unit root tests, all variables are stationary at the first difference. Westerlund and Edgerton (2007) LM Bootstrap cointegration test shows that there is a long-term relationship between variables. Findings The results obtained by the Common Correlated Effects (CCE) estimator indicate that the increase in oil exports has a positive impact on the GDP of all countries, while the increase in oil exports has a negative impact on the non-oil exports of some countries. Originality/value In this study, the relationship between oil exports, economic growth, imports and non-oil exports of the 12 OPEC member countries is tested by considering the cross-sectional dependence between 1972 and 2013. In the study, the authors found a positive relationship as a result of researching the impact of oil exports on economic growth in the frame of CCE panel estimations results.

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44

Kalashnikov, Nikolay. "Cuba – EU: the difficult way to cooperation". Contemporary Europe, n.º 100 (31 de diciembre de 2020): 173–83. http://dx.doi.org/10.15211/soveurope72020173183.

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The article analyzes the development of relations between Cuba and European countries during past soviet period. The main characteristic of this process was its unevenness. Having lost the markets of the USSR and European socialist countries Cuba objectively was interested in finding new partners both for replacement of the sources of industrial goods delivery and for exporting its own products. European countries seemed to be adequate substitution of Russia (except petroleum deliveries). The article describes how the economic interests of the EU to enter the capacious Cuban market contradicted with principals of democracy and human rights. That was the reason of freezing periodically the progress in the economic links. The problem was partly resolved when the decisions taken for political reasons did not apply to “EU-Cuba” relations. The main obstacle for the bilateral economic cooperation was the EU’ Common Position, approved in 1996 which didn’t permit for both sides to subscribe the agreement of cooperation. The cancellation of the EU’ Common Position, together with developing of bilateral relations of individual countries with Cuba gives the EU possibilities to become a strategic economic partner of the Island. The analysis of the development EU – Cuba partnership helps to understand better how Cuban leaders act on the international scene.

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Roth, Victoria. "Incorporating unconventional and renewable energy into the international energy framework: the diminution of OPEC in a new energy world order". Journal of World Energy Law & Business 13, n.º 1 (1 de marzo de 2020): 68–80. http://dx.doi.org/10.1093/jwelb/jwaa008.

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Abstract Nearing its 60th anniversary of foundation, the once unchallenged Organisation of Petroleum Exporting Countries (OPEC) faces a modern diminution of influence. This slipping grip of near-hegemonic control exerted over the petroleum industry, is partly reflective of the rising influence of unconventional energy sources, the rising popularity for alternative and renewable energy sources and a downstream consequence of its own exertion of power. With rising international demand for renewables as a means to provide global energy security, the role of the state remains paramount in meeting energy demands. The international framework falls short of enabling a framework that brings renewable energy past its domestic dependency and into an internationally traded commodity. Following the 1973 embargo against the USA, OPEC inadvertently spurred on the need for a diversified market of energy production to ensure global energy security free from the whims of oligarchic groups. The subsequent investment into alternative energy, including the rising technological advancements made in areas such as horizontal and seismic imaging technology (or, ‘fracking’), has led to the diversification of energy production sources and lessened reliance on external importers by the American energy consumption powerhouse. The lessening reliance on OPEC has had a consequential impact on the unofficial head of the organization, Saudi Arabia. From the proposed initial public offering of Saudi Aramco to Vision 2030, all signs point to looming economic troubles for the petroleum dependant state without adequate, and effective, diversification.

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46

Alberto Fuinhas, Jose, Antonio Cardoso Marques y Tânia Noélia Quaresma. "Does oil consumption promote economic growth in oil producers?" International Journal of Energy Sector Management 9, n.º 3 (7 de septiembre de 2015): 323–35. http://dx.doi.org/10.1108/ijesm-03-2014-0003.

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Purpose The oil-growth nexus is studied in a panel of Organization of the Petroleum Exporting Countries (OPECs), for a long time span (1960-2011), controlling for the specific context of oil production. Their membership in the cartel put them under a common guidance, which originates phenomena of cross-section dependence/contemporaneous correlation in the panel. Design/methodology/approach Recent panel data estimators and co-integration analyses are both pursued and discussed, namely, dealing with the heterogeneity of panels and the countries’ specific effects. The Driscoll–Kraay estimator proves to be appropriate in handling the panel properties. Findings Full understanding of the oil-growth nexus requires the short- and long-run effects to be broken down. The growth hypothesis was found only in the short run. The results suggest the presence of the resource curse phenomenon and prove that the cartel’s long-run growth goal could not being fully accomplished. Actually, both oil production and prices are not promoting economic growth in OPEC countries. Originality/value The focus is on a group of countries which, besides being oil exporters, have an institutional connection between them, i.e. the OPEC cartel. The paper also contributes by framing the relationship between oil consumption and economic growth within a context of countries that are primary energy producers. Additionally, the paper uses a novel econometric approach and a long time span (52 years) not tested.

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47

Nguyen Thi Ngoc, Trang y Hong Dinh Thi Thu. "Nonlinear effects of oil prices on inflation, growth, budget deficit, and unemployment". Journal of Asian Business and Economic Studies 24, n.º 01 (1 de enero de 2017): 75–91. http://dx.doi.org/10.24311/jabes/2017.24.1.04.

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In oil-exporting countries such as members of the OPEC, fluctua-tions in oil prices exert a significant impact on the domestic econo-my. Currently, a sharp reduction in oil prices results in several ad-verse effects; however, for such a crude-oil exporter that is also an importer of petroleum products as Vietnam, does a rise or drop in oil prices is beneficial to its development? This paper attempts to de-termine the oil price threshold while analyzing oil price effects on several macro factors, such as inflation, GDP growth, budget deficit, and unemployment rate over the 2000–2015 period. Using TVAR model, we detect an oil price threshold of USD27.6/barrel. Moreover, an increase in the price of oil, which exceeds this threshold, will cause a rise in inflation, budget deficit, and unemployment rate. Still, there is no significant evidence of the impact of oil prices on GDP growth.

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48

Orynbekova, Aidana. "Impact of OPEC activities on the global oil market". 1 (72), n.º 1 (30 de marzo de 2020): 38–44. http://dx.doi.org/10.52123/1994-2370-2020-72-1-38-44.

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This article is devoted to the main problems of interstate cooperation in the oil industry and the high role of the influence of the Organization of Petroleum Exporting Countries (OPEC) on the world economy. Thus, the process of transformation of OPEC from an inactive and inconspicuous organization in the world oil market, as well as the struggle of its members for universal world domination in the oil market. The increased economic growth of some countries in the past years led to the fact that the demand for oil began to exceed the supply, but the relevance of today dictates its own rules against the backdrop of the growing coronavirus pandemic. It is at the turn of the day that the negative factors and consequences of the global pandemic and its impact on oil prices are most clearly visible. The oil giants of the world economy are the OPEC member countries, which, as the current picture shows, fully control their oil resources and oil prices. Moreover, the current picture shows that oil has become the subject of major global speculation, showing that not only economic growth, the integrity of the world economy and the world order are under threat, but also the entire world energy balance.

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Valenti, Michael. "Kicking the OPEC Habit". Mechanical Engineering 122, n.º 05 (1 de mayo de 2000): 44–51. http://dx.doi.org/10.1115/1.2000-may-1.

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This article highlights that major offshore oil and gas projects may help North America reduce its dependence on the oil cartel. When members of the Organization of Petroleum Exporting Countries (OPEC) cut their production by 4 million barrels per day from March 1999 to March 2000, they tripled oil prices, from $11 to $33 per barrel. The combination of higher gasoline, diesel, and heating oil prices led President Clinton and Congress to pressure the OPEC countries to increase their production. Spar technology has been used for 25 years for loading buoys and storage vessels. The spar is a floating system, basically a cylinder on end that maintains its position with mooring lines sunk into the seabed. Many offshore oilfields are beyond the reach of underwater pipelines. This is an opportunity seized by SOFEC Inc. in Houston. Since 1972, the company, a subsidiary of the FMC Corp., has designed equipment to support floating production storage and offloading systems. These systems consist of a floating platform, basically a moored ship-shaped vessel, equipped to accept oil and gas from a drilling system on the sea bed.

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Ashwarya, Sujata. "Post-2003 Iran–Iraq Cooperation in the Oil and Gas Sector: Initiatives, Challenges, and Future Scenarios". Contemporary Review of the Middle East 4, n.º 1 (marzo de 2017): 84–118. http://dx.doi.org/10.1177/2347798916681349.

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Iran–Iraq cooperation in the oil and gas sector took shape after the 2003 war as relations between the two countries improved with the assumption of power by a Shia-led government in Baghdad. The two Persian Gulf neighbors recognize the importance of joint or unitized development of cross-border oil fields and have taken preliminary initiatives to that end. Inter-state pipelines for energy export and import are binding them into a tight economic embrace, and combined backing for high oil prices as well as mutual support for raising production quota in the Organization of the Petroleum Exporting Countries (OPEC) speak of their similar imperatives for high revenue. However, Iran and Iraq continue to face challenges to their collaborative ventures, which stem from their historical rivalry over oil production and sales, persisting Iraqi suspicion of Iranian domination, absence of a hydrocarbon law in Iraq, and Iraq’s energy agreements with Iran that add to regional tensions with Baghdad’s Sunni neighbors. The road ahead is likely to see dynamic cooperation in areas that are less contentious, such as building of oil and gas pipelines, whereas the prickly issue of unitization of shared fields would take a backseat.

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