Previous studies of OPEC have suggested ways of explaining the behaviour of OPEC as a group. The specific role of Saudi Arabia in the market and within OPEC has received attention from some authors. This study analyses the role of Saudi Arabia in these models and tries to find how much they...

The importance of Saudi Arabia as a large producer of oil can not be ignored. In the Seventies, OPEC determined the price of Abrabian Light as a reference and the members of OPEC set the price of their oil, selling as much as they wanted, while Saudi Arabia was able to maintain its role as the...