OPEC in the 21st century. What has changed and what have we learned?
<p>OPEC was founded in 1960. Looking back, it is hard to detect a constant pattern guiding its actions and policies over these forty years. </p> <p>Probably its only constant strategy has been to adapt to changing conditions in the relationship between economic growth, oil product...
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| Format: | Journal article |
| Language: | English |
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Oxford Institute for Energy Studies
2005
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| _version_ | 1797051942227148800 |
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| author | Merino Garcia, P |
| author_facet | Merino Garcia, P |
| author_sort | Merino Garcia, P |
| collection | OXFORD |
| description | <p>OPEC was founded in 1960. Looking back, it is hard to detect a constant pattern guiding its actions and policies over these forty years. </p> <p>Probably its only constant strategy has been to adapt to changing conditions in the relationship between economic growth, oil product demand, oil prices and the supply response. Its reaction has always been slow, but this is largely because it has always been difficult to predict changes or even be sure that these have in fact occurred.</p> <p>The first question we need to ask when trying to analyse OPEC policies is, ‘What is OPEC’s mission?’ If we look carefully at OPEC’s resolutions, the objective mentioned most often is that of ‘attaining price stability’. Yet, although this is one of the goals for which the organisation was founded, success seems to become more and more elusive, and, today, price is as volatile as it ever has been.</p> |
| first_indexed | 2024-03-06T18:26:17Z |
| format | Journal article |
| id | oxford-uuid:0812e1f2-daae-47a5-a94e-8df29e5c2cc7 |
| institution | University of Oxford |
| language | English |
| last_indexed | 2024-03-06T18:26:17Z |
| publishDate | 2005 |
| publisher | Oxford Institute for Energy Studies |
| record_format | dspace |
| spelling | oxford-uuid:0812e1f2-daae-47a5-a94e-8df29e5c2cc72022-03-26T09:11:00ZOPEC in the 21st century. What has changed and what have we learned?Journal articlehttp://purl.org/coar/resource_type/c_dcae04bcuuid:0812e1f2-daae-47a5-a94e-8df29e5c2cc7EnglishOxford University Research Archive - ValetOxford Institute for Energy Studies2005Merino Garcia, P<p>OPEC was founded in 1960. Looking back, it is hard to detect a constant pattern guiding its actions and policies over these forty years. </p> <p>Probably its only constant strategy has been to adapt to changing conditions in the relationship between economic growth, oil product demand, oil prices and the supply response. Its reaction has always been slow, but this is largely because it has always been difficult to predict changes or even be sure that these have in fact occurred.</p> <p>The first question we need to ask when trying to analyse OPEC policies is, ‘What is OPEC’s mission?’ If we look carefully at OPEC’s resolutions, the objective mentioned most often is that of ‘attaining price stability’. Yet, although this is one of the goals for which the organisation was founded, success seems to become more and more elusive, and, today, price is as volatile as it ever has been.</p> |
| spellingShingle | Merino Garcia, P OPEC in the 21st century. What has changed and what have we learned? |
| title | OPEC in the 21st century. What has changed and what have we learned? |
| title_full | OPEC in the 21st century. What has changed and what have we learned? |
| title_fullStr | OPEC in the 21st century. What has changed and what have we learned? |
| title_full_unstemmed | OPEC in the 21st century. What has changed and what have we learned? |
| title_short | OPEC in the 21st century. What has changed and what have we learned? |
| title_sort | opec in the 21st century what has changed and what have we learned |
| work_keys_str_mv | AT merinogarciap opecinthe21stcenturywhathaschangedandwhathavewelearned |