The Evolution of OPEC |
Contents
Part One Foundations | 1 |
Plan of Study | 18 |
Economic Profit and Opportunity Cost | 27 |
Copyright | |
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Common terms and phrases
agreements Arab Baku barrels per day base-point buyers cartel Chapter coal concession consuming countries cooperation countries of OPEC crude oil declined depletable resource economic profits economic rent embargo Exxon Figure free world goals IEA Principle institutions interest International Energy International Energy Agency international majors inventory Iran Iranian Iraq Jan Jul Jan Japan Jul Jan Jul Kuwait Libya marginal costs market demand prorationing market prices market shares member countries Middle East million barrels monopolist monopoly nations natural gas non-OPEC OAPEC oil imports oil prices oil production OPEC OPEC members output percent policies political posted prices price increases price path primary energy principal problem producing countries profit sharing prorationing purely competitive Ras Tanura relatively reserves revenues rule of capture Russian Saudi Arabia sharing cartel SOURCE spot prices Standard Oil supply Table theory U.S. Department U.S. dollars United Venezuela world oil market world petroleum markets