Oil and Energy Production Analysis – Tamerlan Amirullayev

Abstract:

The purpose of this research paper is to evaluate and assess the theoretical claim that non-OPEC organizations and states rely on OPEC to make production cuts. The concept is based on the relationship between supply and demand in the oil market where it is believed the production cuts on a large scale of producers can fluctuate in oil prices. Energy policies put forward by policy organizations such as IEA, OPEC and also national policy makers depend on this theory to create policies and thus put forward political and economic agendas for their national interest. Therefore it is important to find out if this theory is correct and to which organization does it apply. Also, the behaviour of OPEC must be known to build future policies based on the practice of this powerful organization; cartel is the consensus of behaviour for this organization. …víceméně