The 1973–74 Breakthrough — OPEC Takes Control

Ian Seymour

Chapter Chapter V in OPEC, 1980, pp 98-125 from Palgrave Macmillan

Abstract: Abstract Like the 1970–71 turning point in OPEC’s fortunes exemplified by the Tehran, Tripoli and related agreements, the 1973–74 oil price explosion had its roots in a complex interplay of economic and political forces — but on a significantly magnified scale. This time the gathering intimations of war were for real; and for the first time the Arab oil producers made systematic and effective use of their oil resources as an international political weapon.

Keywords: Saudi Arabia; Reference Price; Freight Rate; Producer Government; OPEC Country (search for similar items in EconPapers)
Date: 1980
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-05794-8_5

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DOI: 10.1007/978-1-349-05794-8_5

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