Working Paper

Crude Oil Price Fluctuations and Saudi Arabian Behaviour


  • De Santis
  • R.A.
Publication Date

This study seeks to explain why crude oil prices fluctuate, the main cause being the quota regime, which characterises the OPEC agreements. Given that the Saudi oil supply is inelastic in the short term, a shock in the oil market is accommodated by an imm


JEL Classification
D58, F13, Q40

Key Words

  • Computable General Equilibrium
  • Crude oil prices
  • export quota
  • OPEC countries
  • OPEC Länder