Unstable world oil market
Journal Article
·
· Energy J.; (United States)
The size of low-cost oil reserves available for development creates a permanent surplus that OPEC controls in order to maintain prices. The future is uncertain, however, because the cartel is clumsy and inclined to overreact. A quick rise in oil demand might help the cartel, but there is a better chance of movement the other way as economic recovery increases investment to discover and develop non-OPEC oil and gas reserves. A cartel of consuming nations can balance the exporters' cartel, but OPEC is likely to survive because the world market needs it.
- Research Organization:
- Massachusetts Institute of Technology, Cambridge
- OSTI ID:
- 5849509
- Journal Information:
- Energy J.; (United States), Journal Name: Energy J.; (United States) Vol. 6:1; ISSN ENJOD
- Country of Publication:
- United States
- Language:
- English
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Related Subjects
02 PETROLEUM
020700 -- Petroleum-- Economics
Industrial
& Business Aspects
021000* -- Petroleum-- Legislation & Regulations
29 ENERGY PLANNING, POLICY, AND ECONOMY
294002 -- Energy Planning & Policy-- Petroleum
CARTELS
ECONOMIC ELASTICITY
ENERGY SOURCES
FOSSIL FUELS
FUELS
MARKET
OIL-EXPORTING COUNTRIES
OIL-IMPORTING COUNTRIES
PETROLEUM
PRICES
RESERVES
RESOURCE ASSESSMENT
RESOURCES
020700 -- Petroleum-- Economics
Industrial
& Business Aspects
021000* -- Petroleum-- Legislation & Regulations
29 ENERGY PLANNING, POLICY, AND ECONOMY
294002 -- Energy Planning & Policy-- Petroleum
CARTELS
ECONOMIC ELASTICITY
ENERGY SOURCES
FOSSIL FUELS
FUELS
MARKET
OIL-EXPORTING COUNTRIES
OIL-IMPORTING COUNTRIES
PETROLEUM
PRICES
RESERVES
RESOURCE ASSESSMENT
RESOURCES