Strategies for OPEC's Pricing and Output Decisions

Dermot Gately

The Energy Journal, 1995, vol. 16, issue 3, 1-38

Abstract: This paper examines OPEC pricing and output strategies, both to provide an understanding of OPEC's unwise price doubling in 1979-80 and also to analyze what strategy might serve it best for the future. We focus on the unavoidable uncertainty regarding the underlying parameters that characterize the world oil market (price elasticities, income growth rates), and the sensitivity of discounted OPEC revenue to changes in these parameters, for various pricing strategies.

Keywords: OPEC oil output; oil prices; OPEC decisions; oil market (search for similar items in EconPapers)
Date: 1995
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Persistent link: https://EconPapers.repec.org/RePEc:sae:enejou:v:16:y:1995:i:3:p:1-38

DOI: 10.5547/ISSN0195-6574-EJ-Vol16-No3-1

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