Price elasticity of non-OPEC supply
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- Master's theses (HH) 
Understanding the oil market requires to study the behavior of both producers and consumers. The oil demand and also the OPEC supply have been more focused on, compare to the non- OPEC supply. However, the mechanisms of oil market cannot be analyzed without studying the behavior of non-OPEC and the way they respond to price changes in short term and long term. Thus, in this research the price elasticity of non-OPEC supply is estimated. A comparison between the results of time series analysis and panel data analysis is provided to find out which model can explain the non-OPEC price responsiveness better than the others. And also the difference between short term and long term price elasticity of non-OPEC supply is studied.