Modeling oil consumption in Baumeister and Hamilton's (2019) model of the global oil market. Replication codes

This dataset contains both time series describing the global crude oil market (prices, production, inventories, global demand) as well as Matlab/R scripts that allows to replicate the results described in the article "Modelling oil consumption in Baumeister and Hamilton’s (2019) model of the global oil market" published in Economics Letters. The detailed instruction on how to use the attached codes is presented in the `readme.txt` file.