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Volume :18 Issue : 2 1990      Add To Cart                                                                    Download

The Impact of the New OPEC Downstream Operations on Oil Industry Structure

Auther : Ama EL-Tigani Ali – Fariborz Ghadar

Since its emergence in 1960, OPEC has been able through its increasing control of oil prices and production to reduce substantially the degree of vertical integration that had characterized the oil industry for decades. OPEC policies also led to rapid and sharp fluctuations in the price of oil which resulted in changing both the magnitude and structure of worldwide demand. This paper describes and analyzes the new OPEC downstream operations and shows how they have affected the current structure of the international oil industry. The paper analyzes the phenomenon of vertical integration and shows how it has been carried out by different members of OPEC. In addition, the paper provides some insight into future vertical integration by OPEC countries and the changes that will ensue in the oil industry structure.

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