Oil market in the 1980s: OPEC oil policy and economic development

Book · Fri Jan 01 04:00:00 EST 1982

OSTI ID:7033042

Aperjis, D

Beginning with a history of the major events in the international oil market during the last two decades, Aperjis discusses the political formation of OPEC. He then develops a composite supply curve for OPEC by dividing the OPEC countries into four different subgroups according to geophysical characteristics of their oil reserves and the economic and political conditions prevailing in each country. The final OPEC oil policy emerges as a compromise among the different policies of the four subgroups. Because pure economic analysis falls short in its ability to predict oil prices, this new framework offers energy analysts a more-reliable way to predict oil markets and examine the factors, including economic-development plans and maximum allowable production, which keeps OPEC members together. 42 references, 30 figures, 35 tables.

• OSTI ID: 7033042
• 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
ECONOMIC DEVELOPMENT
ECONOMIC POLICY
ENERGY SOURCES
FORECASTING
FOSSIL FUELS
FUELS
GOVERNMENT POLICIES
INSTITUTIONAL FACTORS
INTERNATIONAL ORGANIZATIONS
MARKET
OIL-EXPORTING COUNTRIES
OPEC
PETROLEUM
POLITICAL ASPECTS