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OPEC and the Price of Oil in 1993

Editor's note: This article is based on a talk given by Mr. Francisco R Parra--a former Secretary General of OPEC and senior executive of Petroleos de Venezuela-at the Advanced International Petroleum Executive Seminar held byPetroleum Economics Limited in Divonne, from 9 to 11 March 1993. The article first appeared in Middle East Economic Survey 36:26, 29 March 1993. It is reprinted here with permission from the author and MEES.

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Energy Specializations: Petroleum – Markets and Prices for Crude Oil and Products; Energy Security and Geopolitics – International Energy Organizations

JEL Codes:
L13 - Oligopoly and Other Imperfect Markets
O19 - International Linkages to Development; Role of International Organizations

Keywords: OPEC, Oil prices, World oil demand

DOI: 10.5547/ISSN0195-6574-EJ-Vol15-No1-2

Published in Volume15, Number 1 of The Quarterly Journal of the IAEE's Energy Economics Education Foundation.