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OPEC and Its Role in Regulating Price of Petroleum

Ebghaei, Felor (2007): OPEC and Its Role in Regulating Price of Petroleum. Published in: Energy Economics Surveys , Vol. 3, No. 10 (December 2007): pp. 2-22.

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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.

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