The Effect of Oil Prices on Field Production: Evidence from the Norwegian Continental Shelf

• Autores: Johannes Mauritzen
• Localización: Oxford bulletin of economics and statistics, ISSN 0305-9049, Vol. 79, Nº. 1, 2017, págs. 124-144
• Idioma: inglés
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• Resumen

  • I use detailed field-level data on Norwegian offshore oil production and a semi-parametric additive model to control for the production profile of fields to estimate the effect of oil prices on production. I find no significant evidence of a concurrent reaction of field production to oil prices, though a modest lagged effect is found of the magnitude of approximately 2% to 7% for a $10 per barrel increase in the real price of oil.