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| Tekijä: | Okogu, B. E. |
| Otsikko: | Marketing dynamism : an econometric study of the oil pricing policies of selected OPEC members. |
| Lehti: | Energy Economics
1991 : JUL, VOL. 13:3, p. 154-162 |
| Asiasana: | OIL PRICES OPEC INTERNATIONAL TRADE |
| Kieli: | eng |
| Tiivistelmä: | A notable feature of OPEC pricing behaviour is the fact that each member of the Organization has a fairly significant degree of influence in the pricing of its oil. However, this fact has largely been ignored in the literature. The paper models the speed and degree of adjustment of the offical crude oil price of selected OPEC members to changes in the spot price as a means of capturing the aggressiveness with which their crudes have been marketed since the mid-1970s. It is found that, while it may be true that OPEC broadly determined the oil price structure for the period under investigation, the actual pricing behaviour of individual members differed as the more enterprising members were better at exploiting market opportunities. |
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