| Summary: | The M.I.T. World Oil Project has been developing improved methods and data for analysis of the future course of the world oil market. Any forecast of this market depends on analysis of the likely demand for oil imports by major consuming countries, and the likely supply from exporters who behave as "price-takers" in their oil exploration and production. The resulting net demand for oil from the core members of the oil cartel determines the ability of OPEC to set prices. In the M.I.T. research, study of net demand for cartel oil is accompanied by analysis of the behavior of the price-setters themselves, and exploration of the details of market structure as they influence price behavior and trade patterns.
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