OPEC oil: At what price?

Ibrahim Kavrakoglu

Omega, 1988, vol. 16, issue 5, 439-446

Abstract: An economic equilibrium model has been developed to simulate the world oil market. The model is first tested against historical behaviour, and then used in predicting future developments. The optimal price of oil for OPEC profit maximisation is calculated. The effects of the conflicting objectives of the "hawks" and the "moderates" within OPEC are also investigated.

Date: 1988
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