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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 …
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This report presents data on international oil production, demand, imports, exports, and stocks. The report has four sections. Section 1 contains time series data on world oil production, and on oil demand and stocks in the Organization for Economic Cooperation and Development (OECD). This...
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