• P-ISSN 0974-6846 E-ISSN 0974-5645

Indian Journal of Science and Technology


Indian Journal of Science and Technology

Year: 2017, Volume: 10, Issue: 29, Pages: 1-5

Original Article

Exploring Price Causal Relations of OPEC and Non OPEC Oil Markets: Application of Tetrad Algorithm


Crude oil price dynamics determines the order of the world oil market in which OPEC and Non OPEC countries plays major role as exporters and importers. The co-integration and information flow of crude oil price between these groups of countries is helpful in understanding the oil price dynamics in terms of oil rich and oil dependent countries. In this empirical study we explored whether or not the selected OPEC and non OPEC countries are co integrated, if so what kind of causal information implies between each other and country’s dependence or independence in terms of price giver or price taker. Econometrics tools and causal data analysis software tetrad is used in the analysis of oil price time series data.

Keywords: Co integration, Crude Oil Price, Econometrics, Tetrad, Time Series  


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