Oil-exporting countries are among the world’s fastest growing consuiners of petroleum products. Between 1966 and 1986, encouraged by rising incoines and falling piices, doinestic consumption of oil in OPEC countries increased by 94 per cent per year. Without fui-ther increase in capacity, at this rate their consumption of refined products – which in 1993 stood […]
The double squeeze on OPEC’s oil ouput caused by a fall in the world demand for oil and a rapid growth in non-OPEC supplies is preventing this organization from performing a price stablization role . The current oil price crisis is the consequence of these developments.
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