THE IMPACT OF EXCESS PRODUCTION CAPACITY ON OPEC’S PRODUCTION BEHAVIOR

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SHEKARI MEHRI

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Journal Paper

Paper Information

Journal: ENERGY ECONOMICS REVIEW Year:2009 | Volume:6 | Issue:20 Page(s): 57-86

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Information Journal Paper

Title

THE IMPACT OF EXCESS PRODUCTION CAPACITY ON OPEC’S PRODUCTION BEHAVIOR

Author(s)

SHEKARI MEHRI | Issue Writer Certificate

Keywords

BEHAVIORQ3

ORGANIZATIONQ2

INVESTMENTQ2

MARKET CONDITIONSQ2

EXCESS CAPACITYQ3

OPECQ2

ENERGYQ3

SUPPLY AND DEMANDQ3

Abstract

One of the important factors that influence the oil market is excess production capacity of OPEC. Excess production capacity is what allows OPEC to effectively intervene in the oil market to control sharp price fluctuations. At times of sudden supply disruptions, OPEC is able to compensate the shortage through raising production closer to capacity. Non-OPEC countries have not followed such a policy and thus it is only OPEC that can intervene to smooth out SUPPLY AND DEMAND by virtue of its excess production capacity.The insight of this article indicates that any reduction in the excess production capacity of OPEC reduces its ability to stabilize the market in the face of SUPPLY AND DEMAND shocks. In order to maintain OPEC’s market power it is important that OPEC member countries attract capital and use modern technology to increase their production capacity, thus continuing to have an appropriate level of EXCESS CAPACITY.

Cites

OIL PRICE AND THE ROLE OF OPEC SPARE CAPACITY PRODUCTION

References

Cite

APA: Copy

SHEKARI, MEHRI. (2009). THE IMPACT OF EXCESS PRODUCTION CAPACITY ON OPEC’S PRODUCTION BEHAVIOR. ENERGY ECONOMICS REVIEW, 6(20), 57-86. SID. https://sid.ir/paper/99469/en

Vancouver: Copy

SHEKARI MEHRI. THE IMPACT OF EXCESS PRODUCTION CAPACITY ON OPEC’S PRODUCTION BEHAVIOR. ENERGY ECONOMICS REVIEW[Internet]. 2009;6(20):57-86. Available from: https://sid.ir/paper/99469/en

IEEE: Copy

MEHRI SHEKARI, “THE IMPACT OF EXCESS PRODUCTION CAPACITY ON OPEC’S PRODUCTION BEHAVIOR,” ENERGY ECONOMICS REVIEW, vol. 6, no. 20, pp. 57–86, 2009, [Online]. Available: https://sid.ir/paper/99469/en

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