{"title":"Stocks and flows—inventories in petroleum refining","authors":"R. Tischer","doi":"10.1111/opec.12178","DOIUrl":"https://doi.org/10.1111/opec.12178","url":null,"abstract":"","PeriodicalId":44992,"journal":{"name":"OPEC Energy Review","volume":"44 1","pages":"162-180"},"PeriodicalIF":2.2,"publicationDate":"2020-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/opec.12178","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41840476","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"US light tight oil: Is it really a demand problem rather than a supply one?","authors":"Roddy Graham, Pedro Antonio Merino Garcia","doi":"10.1111/opec.12176","DOIUrl":"https://doi.org/10.1111/opec.12176","url":null,"abstract":"","PeriodicalId":44992,"journal":{"name":"OPEC Energy Review","volume":" ","pages":""},"PeriodicalIF":2.2,"publicationDate":"2020-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/opec.12176","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48136766","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The effects of oil price shocks on the macroeconomy: economic growth and unemployment in Saudi Arabia","authors":"Najla Almutairi","doi":"10.1111/opec.12179","DOIUrl":"https://doi.org/10.1111/opec.12179","url":null,"abstract":"","PeriodicalId":44992,"journal":{"name":"OPEC Energy Review","volume":"44 1","pages":"181-204"},"PeriodicalIF":2.2,"publicationDate":"2020-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/opec.12179","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45420698","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
International migration and remittances from oil-exporting Gulf countries are important sources of employment, income and foreign exchange for Pakistan This study investigates the asymmetric impact of oil prices on remittances to Pakistan from GCC countries, over the period 1980 to 2018, by employing the recently advanced non-linear panel pooled mean group (PMG) model The findings show that oil prices and remittance are asymmetrically associated The increasing oil prices have a significant positive effect only in the long run, whereas reducing oil prices reveal a significant negative effect only in the short run Findings of other explanatory variables show that the economic condition in host countries, exchange rate, and trade relations have positive effects only in the long run, whereas the economic condition in the home country has significant negative effects in the long run and positive effect in the short run This study urges oil exporters to stabilise oil supply and prices, and Pakistan to enhance trade relations, exchange rate adjustments and financial development
{"title":"Impact of oil prices on remittances to Pakistan from GCC countries: evidence from panel asymmetric analysis","authors":"Shujaat Abbas","doi":"10.1111/opec.12180","DOIUrl":"https://doi.org/10.1111/opec.12180","url":null,"abstract":"International migration and remittances from oil-exporting Gulf countries are important sources of employment, income and foreign exchange for Pakistan This study investigates the asymmetric impact of oil prices on remittances to Pakistan from GCC countries, over the period 1980 to 2018, by employing the recently advanced non-linear panel pooled mean group (PMG) model The findings show that oil prices and remittance are asymmetrically associated The increasing oil prices have a significant positive effect only in the long run, whereas reducing oil prices reveal a significant negative effect only in the short run Findings of other explanatory variables show that the economic condition in host countries, exchange rate, and trade relations have positive effects only in the long run, whereas the economic condition in the home country has significant negative effects in the long run and positive effect in the short run This study urges oil exporters to stabilise oil supply and prices, and Pakistan to enhance trade relations, exchange rate adjustments and financial development","PeriodicalId":44992,"journal":{"name":"OPEC Energy Review","volume":" ","pages":""},"PeriodicalIF":2.2,"publicationDate":"2020-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/opec.12180","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45022806","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The value of the financial structure to economic performance in oil‐producing countries","authors":"Oro Ufuo Oro, A. Ekpo","doi":"10.1111/opec.12169","DOIUrl":"https://doi.org/10.1111/opec.12169","url":null,"abstract":"","PeriodicalId":44992,"journal":{"name":"OPEC Energy Review","volume":"44 1","pages":"43-58"},"PeriodicalIF":2.2,"publicationDate":"2020-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/opec.12169","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42836619","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Presidential Amnesty Programme of 2009 and Nigerian Oil Production: a disaggregate econometric analysis","authors":"W. Walls, A. During","doi":"10.1111/opec.12168","DOIUrl":"https://doi.org/10.1111/opec.12168","url":null,"abstract":"","PeriodicalId":44992,"journal":{"name":"OPEC Energy Review","volume":"44 1","pages":"27-42"},"PeriodicalIF":2.2,"publicationDate":"2020-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/opec.12168","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46705702","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Oil prices and European household consumption expenditures","authors":"Maruška Vizek, Junsoo Lee, J. Payne","doi":"10.1111/opec.12170","DOIUrl":"https://doi.org/10.1111/opec.12170","url":null,"abstract":"","PeriodicalId":44992,"journal":{"name":"OPEC Energy Review","volume":"44 1","pages":"59-90"},"PeriodicalIF":2.2,"publicationDate":"2020-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/opec.12170","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43312583","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Jumps in the price process of assets represent a sort of tail risk and are found to affect many aspects of asset pricing, volatility modelling, and asset allocation. In this paper, we detect price jumps in the realized volatility series of a wide set of commodity futures and find evidence of a jumpy behaviour, especially in energy and agricultural commodities. We examine whether the realized volatilities of commodity futures jump together and find evidence that co-jumping is significant and generally clustered within the commodity groups, suggesting some sort of segmentation regarding the tail risk behaviour across energy, agricultural, and metals commodities. Additional analysis shows that price jumps and macroeconomic news surprises tend to occur together in specific commodities such as crude oil, which confirms earlier findings about the sensitivity of crude oil to news about the economy.
{"title":"Jumps in energy and non‐energy commodities","authors":"Elie Bouri, Rangan Gupta","doi":"10.1111/OPEC.12171","DOIUrl":"https://doi.org/10.1111/OPEC.12171","url":null,"abstract":"Jumps in the price process of assets represent a sort of tail risk and are found to affect many aspects of asset pricing, volatility modelling, and asset allocation. In this paper, we detect price jumps in the realized volatility series of a wide set of commodity futures and find evidence of a jumpy behaviour, especially in energy and agricultural commodities. We examine whether the realized volatilities of commodity futures jump together and find evidence that co-jumping is significant and generally clustered within the commodity groups, suggesting some sort of segmentation regarding the tail risk behaviour across energy, agricultural, and metals commodities. Additional analysis shows that price jumps and macroeconomic news surprises tend to occur together in specific commodities such as crude oil, which confirms earlier findings about the sensitivity of crude oil to news about the economy.","PeriodicalId":44992,"journal":{"name":"OPEC Energy Review","volume":"44 1","pages":"91-111"},"PeriodicalIF":2.2,"publicationDate":"2020-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/OPEC.12171","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"63540714","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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