OPEC and Its Role in Regulating Price of Petroleum

Felor Ebghaei

MPRA Paper from University Library of Munich, Germany

Abstract: The present paper offers a short history of the Organization of Petroleum Exporting Countries (OPEC) together with a brief account of its goals, operational structure, membership requirements and its role in regulating oil prices. Studying oil price developments and OPEC's role since its foundation shows that OPEC has reacted sensitively to oil price volatilities and attempted to stabilize oil prices. In fact, the organization has played an effective role through different crises.

Keywords: OPEC; Crude Oil Prices; Oil Market; Oil Companies; Energy Policy (search for similar items in EconPapers)
JEL-codes: D40 Q30 Q40 (search for similar items in EconPapers)
Date: 2007-12, Revised 2017-07
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Published in Energy Economics Surveys 10.3(2007): pp. 2-22

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https://mpra.ub.uni-muenchen.de/80159/1/MPRA_paper_80159.pdf revised version (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:80156

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