This study estimates three hypotheses of OPEC behavior: market-sharing, target revenue and competitive model for the period 1980 to 2000 for all OPEC courtiers except Iraq. To examine co-integration relation for oil production, we use ADF test in OLS estimation. Also we use ARDL approach to examine these hypotheses and the long run relationship of them. Results indicate none of three hypotheses...

To perform any economic management of a petroleum reservoir in real time, a predictable and/or updateable model of reservoir along with uncertainty estimation ability is required. One relatively recent method is a sequential Monte Carlo implementation of the Kalman filter: the Ensemble Kalman Filter (EnKF). The EnKF not only estimate uncertain parameters but also provide a recursive estimat...