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Assignment on Production and Oil Price Analysis

   

Added on  2020-04-07

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RUNNING HEAD: OPEC DATA1OPEC Production and oil price analysis
Assignment on Production and Oil Price Analysis_1

OPEC DATA 2OPEC is also known as the organization of the petroleum exporting countries which is intergovernmental organization incorporated at the Baghdad conference by Iraq, Kuwait, Saudi Arabia and Venezuela. (OPEC, 2017)This part of the report reflect the data of OPEC between 2005 to 2017 which provides all the statistics and details of OPEC oil price, production ceiling and actual oil production rate throughout the time. Oil production priceNominal ORB price has been shown to identify the variance and of real OPEC production prices.However, by using these production rate, computation of growth production price has also been determined (Jones, 1990)YearsNominal ORB priceReal ($2015) ORB price198224221983262619842428198527241986262619872224198826261989252819902627199127261992292419932527199422291995242919962431199728271998292519993032200027.635.0200123.128.8200224.429.9
Assignment on Production and Oil Price Analysis_2

OPEC DATA 3200328.134.0200436.042.8200550.659.1200661.169.9200769.177.5200894.5102.8200961.166.4201077.583.02011107.5112.42012109.5112.32013105.9107.2201496.396.4201549.549.5201640.039.8 This has shown that oil production rate has increased throughout the time. However, OPEC has increased Oil production rate by 100% since last 30 years. The OPEC oil estimated production price $ 40 which is 200 % up as compared to last 30 years price. Nonetheless, this level of ups and down in oil price has shown that OPEC members and increased their oil production rate by significant amount. Production ceiling of OPEC
Assignment on Production and Oil Price Analysis_3

OPEC DATA 4(Please see the attached Excel file for the same)Computation of Compliance rateIt is evaluated that compliance rate of OPEC is based on the actual production of OPEC and totalcelling set by OPEC for its yearly production. There is formula used to compute the compliance rate of OEPC (Jones, (1990).Total production- celling set/Total production*100Annual AverageCrude Oil Production, Total OPECTotal production celling Compliance rate (Thousand Barrels per Day)1,97329,81121,61627%1,97429,52422,02125%1,97526,01321,74016%1,97629,34123,65019%1,97729,80622,43625%1,97828,37124,20015%1,97929,55424,28918%1,98025,55823,3019%1,98121,36824,233-13%1,98217,92825,033-40%1,98316,71821,916-31%1,98416,65321,978-32%1,98515,53922,040-42%1,98617,75323,650-33%1,98717,88622,436-25%1,98819,90024,200-22%1,98921,61525,005-16%1,99022,76825,321-11%1,99122,71625,638-13%1,99224,02825,954-8%1,99324,78222,10211%1,99425,21022,16412%1,99525,87022,22614%1,99626,38923,65010%1,99727,69722,43619%1,99828,78124,20016%
Assignment on Production and Oil Price Analysis_4

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