An analysis of oil production by OPEC countries: Persistence, breaks, and outliers

Carlos Barros, Luis Gil-Alana and James Payne

Energy Policy, 2011, vol. 39, issue 1, 442-453

Abstract: This study examines the time series behaviour of oil production for OPEC member countries within a fractional integration modelling framework recognizing the potential for structural breaks and outliers. The analysis is undertaken using monthly data from January 1973 to October 2008 for 13 OPEC member countries. The results indicate there is mean reverting persistence in oil production with breaks identified in 10 out of the 13 countries examined. Thus, shocks affecting the structure of OPEC oil production will have persistent effects in the long run for all countries, and in some cases the effects are expected to be permanent.

Keywords: Oil; production; OPEC; Persistence (search for similar items in EconPapers)
Date: 2011
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (45)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0301-4215(10)00775-5
Full text for ScienceDirect subscribers only

Related works:
Working Paper: An Analysis of Oil Production by OPEC Countries: Persistence, Breaks, and Outliers (2011)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:enepol:v:39:y:2011:i:1:p:442-453

Access Statistics for this article

Energy Policy is currently edited by N. France

More articles in Energy Policy from Elsevier
Bibliographic data for series maintained by Catherine Liu ().