Oil Markets, OPEC, and the MENA Region

Julia Devlin

Chapter 2 in Economics of the Middle East:Development Challenges, 2016, pp 35-55 from World Scientific Publishing Co. Pte. Ltd.

Abstract: In 1960, a small organization functioning more or less like a trade union was created by five oil exporting developing countries. By the mid-1970s, this organization, the Organization of the Petroleum Exporting Countries (OPEC) had grown to 12 members, the majority from the Middle East and North Africa (MENA) region and came to represent more than half of world oil exports and nearly all of the spare oil production capacity in the global economy…

Keywords: Economic Development; Middle East; North Africa (search for similar items in EconPapers)
JEL-codes: O10 O20 R11 R58 (search for similar items in EconPapers)
Date: 2016
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