OPEC and crude oil: a long look ahead

Journal Article · Thu Nov 01 04:00:00 EST 1984 · World Oil; (United States)

OSTI ID:6503045

Crouse, P C

This article offers a viewpoint on what OPEC's ten years of oil price governance has meant to supply, demand, competitive fuels and inventories, and forecasts the future for these same industry indicators. The Middle East accounts for 54% of the world's crude oil reserves and still acts as the marginal supplier of world energy needs. This article predicts OPEC increasing in strength, world oil demand increasing to 63 million bpd in 1990 with little increased productive capacity outside OPEC and the communist bloc. Oil prices should remain relatively flat according to the author, through 1985, after which increases are expected. Competitive fuels are projected to continue to support world energy demands through the end of the century. Oil inventories are currently at lean levels and are forecasted to increase.

• Research Organization: Philip C. Crouse and Associates, Dallas, TX
• OSTI ID: 6503045
• Journal Information: World Oil; (United States), Journal Name: World Oil; (United States) Vol. 199:6; ISSN WOOIA
• 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
ECONOMIC IMPACT
ENERGY SOURCES
FOSSIL FUELS
FUELS
HISTORICAL ASPECTS
INTERNATIONAL ORGANIZATIONS
MARKET
OIL-EXPORTING COUNTRIES
OPEC
PETROLEUM
PRICES
RESERVES
RESOURCES
SUPPLY AND DEMAND