Market share OPEC lost in defending higher prices from 1979-1985 is being steadily regained and is projected to exceed … 50% by 2000. World oil markets are likely to be as vulnerable to monopoly influence as they were 20 years ago, as OPEC … pricing. A simulated 2-year supply reduction in 2005-6 boosts OPEC revenues by roughly half a trillion dollars and costs the …

The partial monopolization of the world oil market by the OPEC cartel has produced significant economic costs to the …-1991. Two fundamental assumptions of the analysis are, (1) that OPEC has acted as a monopoly, albeit with limited control … of the OPEC Cartel have also produced oil price shocks, both upward and downward, that generate additional costs because …

long run and given the ability of the OPEC cartel to use market power to influence oil prices. Although oil prices have … been lower and more stable over the past decade, OPEC still holds the majority of the world`s conventional oil resources … according to the best available estimates. OPEC`s share of the world oil market is likely to grow significantly in the future …