Economies of scale in Saudi Arabia's refining sector: An application of modern econometric models.

This paper aims to reveal how the refining industry's inputs in Saudi Arabia affect its output and to forecast refining industry dynamics. The variables used in this paper are the refined petroleum products representing the dependent variable, with natural gas liquids, crude oil, labor, and capital acting as explanatory variables covering the period 1990-2020. The long run cointegration of the variables was observed.