OPEC pricing policy

Journal Article · Fri Jan 01 04:00:00 EST 1982 · J. World Trade Law; (United States)

OSTI ID:5571446

Evans, A C

OPEC members differ in terms of their respective recoverable resources, rates of exploitation, stages of development, and political systems, and this diversity intensified as the membership grew. Efforts to increase OPEC prices have only been successful during two periods (1973-74 and 1979-80), but international market conditions would have raised prices without OPEC intervention. Periods of falling demand do reflect a tendency for members to adjust production rather than compete with lower prices. This strategy affects development programs, however, and will suffer if oil-consumers were to make up shortfalls in supply from non-OPEC sources. OPEC's reluctance, especially that of Saudi Arabia, to reduce the surplus indicates that OPEC's major impact is in keeping prices up under surplus conditions. 40 references. (DCK)

• OSTI ID: 5571446
• Journal Information: J. World Trade Law; (United States), Journal Name: J. World Trade Law; (United States) Vol. 16:6; ISSN JWTLD
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700* -- Petroleum-- Economics
Industrial
& Business Aspects
29 ENERGY PLANNING, POLICY, AND ECONOMY
290200 -- Energy Planning & Policy-- Economics & Sociology
294002 -- Energy Planning & Policy-- Petroleum
COMPETITION
ENERGY SUPPLIES
FUEL SUPPLIES
INCOME
INTERNATIONAL ORGANIZATIONS
MARKET
OIL-EXPORTING COUNTRIES
OPEC
PRICES