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Measuring the security of energy exports demand in OPEC economies

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  • Dike, Jude Chukwudi

Abstract

One of the objectives of OPEC is the security of demand for the crude oil exports of its members. Achieving this objective is imperative with the projected decline in OECD countries' crude oil demand among other crude oil demand shocks. This paper focuses on determining the external crude oil demand security risks of OPEC member states. In assessing these risks, this study introduces two indexes. The first index, Risky Energy Exports Demand (REED), indicates the level of energy export demand security risks for OPEC members. It combines measures of export dependence, economic dependence, monopsony risk and transportation risk. The second index, Contribution to OPEC Risk Exposure (CORE), indicates the individual contribution of the OPEC members to OPEC's risk exposure. This study utilises the disaggregated index approach in measuring energy demand security risks for crude oil and natural gas and involves a country level analysis. With the disaggregated approach, the study shows that OPEC's energy export demand security risks differ across countries and energy types.

Suggested Citation

  • Dike, Jude Chukwudi, 2013. "Measuring the security of energy exports demand in OPEC economies," Energy Policy, Elsevier, vol. 60(C), pages 594-600.
    • Handle: RePEc:eee:enepol:v:60:y:2013:i:c:p:594-600
    DOI: 10.1016/j.enpol.2013.05.086
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    Cited by:

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    8. Bolaji Adesola Adesoye, 2017. "Macroeconomic Effects of Export Demand in Nigeria," EuroEconomica, Danubius University of Galati, issue 1(36), pages 122-130, May.
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    14. Pavlović, Darko & Banovac, Eraldo & Vištica, Nikola, 2018. "Defining a composite index for measuring natural gas supply security - The Croatian gas market case," Energy Policy, Elsevier, vol. 114(C), pages 30-38.
    15. Pan, Yuling & Dong, Feng, 2022. "Design of energy use rights trading policy from the perspective of energy vulnerability," Energy Policy, Elsevier, vol. 160(C).
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