OPEC behavior: The volume of oil reserves announced

Morteza Behrouzifar, Ebrahim Siami Araghi and Ali Emami Meibodi

Energy Policy, 2019, vol. 127, issue C, 500-522

Abstract: OPEC procedures dictate that all member states should notify the volume of their crude oil reserves to the organization secretariat so that OPEC would reflect the figures in its official published materials. Many OPEC states say that it is not feasible to investigate the amount of their oil reserves through independent observers, believing this is a confidential issue. In fact, a contradiction appears to exist between the data for each oil field and the figures publicly announced for the fields on aggregate. This comes under the pretext of existing doubts about the volume of declared reserves.

Keywords: OPEC; Oil reserves; Oil production; Markov switching model (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:enepol:v:127:y:2019:i:c:p:500-522

DOI: 10.1016/j.enpol.2018.10.037

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