OPEC Behaviour and World Oil Prices

1st Edition

James M. Griffin, David J. Teece

Routledge
Published March 20, 2018
Reference - 238 Pages
ISBN 9781138646858 - CAT# Y228206
Series: Routledge Library Editions: The Economics and Politics of Oil and Gas

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Summary

This volume, originally published in 1982, brings together economists, political scientists and industry experts to explain OPEC’s past achievements and future (in the early 1980s) prospects. The book opens with a clear, concise amd easy to follow treatment of the economics of exhaustible resources under monopoly and competition, the framework frequently used to examine pricing issues. The role of wealth maximisation, wealth satisficing and political factors as OPEC objectives are discussed and implications for world oil prices assessed. The stability of OPEC and the limitations of its pricing policy are examined and OPEC oil pricing and importers’ policies analysed.

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