Non-OPEC oil supply and implications for OPEC's control of the market

Journal Article · · J. Energy Dev.; (United States)

OSTI ID:7125322

Sakbani, M M; Van Belle, J J

Market forces are operating to counter the success of the Organization of Petroleum Exporting Countries (OPEC) and increase the effects of non-OPEC supplies. Foreign-exchange pressures will affect OPEC prices after 1980 as other sources assume a larger market share. For the remainder of the 1970s OPEC surpluses will peak at nearly $200 billion and will be concentrated by those member nations which are the last to feel the pressure of foreign exchange earning because they can under-produce and match supply with demand. All OPEC nations will not be able to restrain their own demand for imports unless the low-absorbers can provide subsidies. New discoveries and production of non-OPEC oil after 1980 and the development of alternate energy sources will require new responses from OPEC. Since much of the new oil discovery will occur in OPEC or Third World countries, OPEC may be able to retain its present position. (DCK)

• Research Organization: Federal Reserve Bank of New York
• OSTI ID: 7125322
• Journal Information: J. Energy Dev.; (United States), Journal Name: J. Energy Dev.; (United States) Vol. 2:1; ISSN JENDD
• Country of Publication: United States
• Language: English

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