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Muzhzhavleva T., Kurakova A.

Problems in the Organization of petroleum exporting countries (OPEC) at present stage

Keywords: OPEC, world oil reserves, world oil market, oil policy, supply quota system, OPEC internal environment, OPEC external environment

Based on the analysis of economic situation in states-OPEC members, differentiation of states by their level of development was carried out, in accordance with which the priority goals of hydrocarbon exporting countries and, accordingly, the policy in the field of oil exports to world markets were determined. Multidirectional actions and competition among the members of the organization are revealed, which destabilize the international oil market in terms of volumes and prices. Violations of principles in setting quotas on the part of cartel participants, provoking internal disagreements between them, are defined. The main competitors of OPEC are identified, among which Russia, the USA, China stand out, the share of supplies of these states to the oil market is growing steadily. Basing on the analysis of OPEC’s internal and external environment the problems of the organization, the factors that cause them are systematized, the ways to solve them are proposed.

References

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About authors

Kurakova Anna
economic theory and international economic relations department undergraduate, Chuvash State University, Russia, Cheboksary (a.nna.kurakova@mail.ru)
Muzhzhavleva Tatiana
doctor of economics, economic theory and international economic relations department professor, Chuvash State University, Russia, Cheboksary (csaprdom@mail.ru)

Article link

Muzhzhavleva T., Kurakova A. Problems in the Organization of petroleum exporting countries (OPEC) at present stage [Electronic resource] // Oeconomia et Jus. – 2018. – №4. P. 21-28. – URL: http://oecomia-et-jus.ru/en/single/2018/4/4/.