Legal Issues of OPEC Production Management Practices: An Overview
Article from: TDM 1 (2012), in A Liber Amicorum: Thomas Wälde - Law Beyond Conventional Thought
OPEC is an organization made up of countries that are net-exporters of petroleum. OPEC countries as a group account for just under half of global oil supplies and over three-quarters of proven crude oil reserves today. With global demand for oil forecast to grow significantly over the next two decades, OPEC's share of the market is also forecast to grow. In order for OPEC countries to meet this growing demand, they do not only need to make use of existing production capacity; they will also need to invest heavily in the sector and build additional capacity. But there is also the risk ...