Can OPEC stanch the overflow

Journal Article · Wed Apr 01 04:00:00 EST 1981 · Mon. Econ. Lett.; (United States)

OSTI ID:6547522

Saudi Arabia's success in sustaining crude oil prices and declining world consumption will affect the growing imbalance in world oil markets. Thirty percent of the decline in production in 1977 to 1978 to meet market challenges was borne by Saudi Arabia, but this time other Organization of Petroleum Exporting Countries (OPEC) are asked to absorb some of the cut to make up for an increase in production in Iran and Iraq. This time the countries have a favorable balance-of-payments from their export revenues to cushion the effect. Saudi Arabia wants the other countries to share in the cut to demonstrate its influence and to restore a unified price structure. (DCK)

• OSTI ID: 6547522
• Journal Information: Mon. Econ. Lett.; (United States), Journal Name: Mon. Econ. Lett.; (United States); ISSN MELTA
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700 -- Petroleum-- Economics
Industrial
& Business Aspects
29 ENERGY PLANNING, POLICY, AND ECONOMY
294002* -- Energy Planning & Policy-- Petroleum
ASIA
ENERGY SOURCES
FOSSIL FUELS
FUELS
INTERNATIONAL ORGANIZATIONS
MARKET
OIL-EXPORTING COUNTRIES
OPEC
PETROLEUM
PRODUCTION
SAUDI ARABIA