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Kilian (2009) Oil Market Dataset

kilian2009.Rd

Monthly observations from February 1973 to December 2007 on global oil production, economic activity, and real crude oil prices.

Usage

kilian2009

Format

A data frame with 3 observations and 4 variables:

time

Time index in monthly format (e.g., 1973m2 for February 1973)

oil

Percentage change in global oil production. Calculated as the log difference of world crude oil production (in millions of barrels per day, monthly average). Source: U.S. Department of Energy.

output

Global real economic activity index, derived from single-voyage ocean freight rates for dry cargo. Index is in logs and normalized.

price

Real price of crude oil, based on the refiner acquisition cost of imported crude oil, deflated by the U.S. CPI. Data source: U.S. Department of Energy.

Source

Kilian, Lutz. 2009. "Not All Oil Price Shocks Are Alike: Disentangling Demand and Supply Shocks in the Crude Oil Market." American Economic Review, 1053-1069. Data available from https://www.openicpsr.org/openicpsr/project/113299/version/V1/view

Details

The dataset provides monthly indices to help analyze the effects of various oil price shocks, with specific distinctions between demand and supply drivers in the oil market.