کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5063735 1476701 2017 14 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
The relationship between oil prices and rig counts: The importance of lags
ترجمه فارسی عنوان
رابطه بین قیمت نفت و تعداد دکل: اهمیت عقب افتاده
موضوعات مرتبط
مهندسی و علوم پایه مهندسی انرژی انرژی (عمومی)
چکیده انگلیسی


- The impact of changes in oil returns on the rig counts has lags up to one quarter.
- The estimation supports non-linearity between oil returns and rig counts.
- There is evidence of non-linearity that softened and stabilized in most recent years and the relationship between the variables has stabilized.
- The results are important for policy makers and investors.

This study deals with a timely and relevant issue in the oil market in the wake of the recent drastic drop in oil prices, which is the relationship between changes in oil prices and changes in rig counts, while accounting for other determinants of this relationship. This relationship is of strong interest to analysts, investors and policymakers in the United States and other countries. We empirically verify the impact of changes in oil prices on rig counts, which has lags up to one quarter. This evidence is stable across time and over different linear and non-linear models. The analysis also suggests that the relationship is non-linear, which is verified by both the quantile regression and quantile-on-quantile models. We find evidence of non-linearity that has softened in the most recent years where the relationship between the variables has stabilized.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Energy Economics - Volume 63, March 2017, Pages 213-226
نویسندگان
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