TITLE

What Oil Export Levels Should We Expect From OPEC?

AUTHOR(S)
Gately, Dermot
PUB. DATE
April 2007
SOURCE
Energy Journal;2007, Vol. 28 Issue 2, p151
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
We analyze the levels of oil exports that should be expected from OPEC over the next 25 years. We search for a long-term, market-adaptive, robustly optimal strategy that best serves OPEC's interests, and conclude that OPEC export profits will be higher if OPEC expands its oil exports by enough to maintain OPEC exports' share of non-OPEC demand. Yet the incentives for this export expansion are relatively small -- only a few percent in terms of discounted effort profits -- and it requires that OPEC be farsighted, because the higher export profits from faster export growth won't be significant within the next decade. Moreover; if OPEC does maintain its exports' share of non-OPEC demand, the continued rapid growth of OPEC's own oil consumption will require that OPEC oil output will have to increase 60% by 2030, which will be a major challenge.
ACCESSION #
24994110

 

Related Articles

  • OIL MARKET OUTLOOK.  // Africa Monitor: North Africa Monitor;Jul2006, Vol. 11 Issue 7, p1 

    The article reports that on June 7, 2006, the Organization of Petroleum Exporting Countries basket price was at $65.43/bbl, maintaining an uptrend for most of the past month. In early June 2006, the price escalated on fears that Iran would disrupt oil exports through the Strait of Hormuz as a...

  • Global Oil Market Overview.  // Mexico Oil & Gas Report;Q3 2008, p13 

    The article presents an overview for the development of oil demand, supply, and prices in the world market. It discusses the ministerial meeting of the Organization of Petroleum Exporting Countries (OPEC) in 2008 as well as the growth of oil supply during 2008 and 2009. In addition, it presents...

  • Which way now for OPEC? A Siddiqi, Moin // Middle East;Jun2003, Issue 335, p44 

    The article focuses on problems faced by the OPEC cartel due to the excessive supply of oil in the market. Following the latest conflict, oil prices are expected to fall because of an anticipated post-war glut, similar to the one that occurred in the early 1990s, when Iraqi and Kuwaiti fields...

  • Prices drop on OPEC decision.  // MEED: Middle East Economic Digest;12/5/2003, Vol. 47 Issue 49, p12 

    Reports on a decline in oil prices in relation to a decision by the Organization of Oil Producing & Exporting Countries (OPEC) to leave its output ceiling unchanged on December 4, 2003. Trading of Brent per barrel following the decision of OPEC; Reaction of producers to the move of OPEC to roll...

  • OPEC threatens more production cuts as oil price rallies.  // MEED: Middle East Economic Digest;11/24/2006, Vol. 50 Issue 47, p14 

    The article reports on a statement by the Organization of Petroleum Exporting Countries (OPEC), reiterating its defense of a $50 to 55-per-barrel target price by threatening more petroleum production quota reductions. According to the Centre for Global Energy Studies, Riyadh in Saudi Arabia was...

  • OIL MARKET OUTLOOK.  // Africa Monitor: Southern Africa;Apr2006, Vol. 11 Issue 4, p1 

    The article presents a forecast regarding the oil industry. The Organization of Petroleum Exporting Countries (OPEC) was predicted to maintain production at its March 2006 meeting because of light geopolitical risks to supply, combined with high demand. The OPEC basket price declined to...

  • OPEC: Much ado about nothing? Ford, Neil // Middle East;Nov2005, Issue 361, p34 

    This article reports that the Organization of Petroleum Exporting Countries (OPEC) has agreed to try to boost output by a massive 2m barrels a day. However, with little new refining capacity expected to become operational over the next year, there seems little to push barrel prices below the $60...

  • OIL MARKET OUTLOOK.  // Africa Monitor: Southern Africa;Nov2005, Vol. 10 Issue 11, p1 

    The article presents an outlook for the oil market in the U.S. as of November 2005. Oil prices have fallen from post-Katrina highs of U.S.$62.0/bbl to around U.S.$58.0/bbl in October 2005. While there was some seasonal crude stock build in Q3 as the Organization of Petroleum Exporting Countries...

  • Global Energy Market Outlook.  // Turkey Oil & Gas Report;Q2 2012, Issue 2, p8 

    The article offers an overview of global energy market. It states that the oil market would operate with a supply deficit in 2012, but the pressure may ease as production starts to catch up with demand. It mentions that this supply tightness has contributed to elevated oil prices and a high...

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics