Frondel, Manuel; Horvath, Marco - 2019
As of late 2008, the steady decline of U.S. crude oil production over the last decades was reversed by the increased …) to assess OPEC's ability to influence real oil prices, this paper investigates the effect of the increase in U.S. oil … production due to fracking on world oil prices. Among our key results obtained from (dynamic) OLS estimations, there is a …