OPEC at high noon 1974-1981
After 1973, oil consumption stagnated worldwide. Non-OPEC output increased, mostly in Alaska, Mexico, and the North Sea, but not because of the price rise. The cartel nations had to assume the whole burden of cutting back output to maintain price. The demand for OPEC oil, the difference between tota...
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| Format: | Working Paper |
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MIT Center for Energy and Environmental Policy Research
2009
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| Online Access: | http://hdl.handle.net/1721.1/50174 |