OPEC's Dominance of the Global Oil Market: The Rise of the World's Dependency on Oil
This article examines the rise of the world's dependency on oil and the Organization of Petroleum Exporting Countries' (OPEC) dominance of the global oil market during the 1970s, OPEC's fall in the 1980s, and its resurgence in the 1990s. It contends that efforts by the Global North's
countries to conserve fuel and to develop alternative energy sources have proved a much more arduous task than at first thought. Although there has been some progress in this area, OPEC continues to dominate the world oil market in the twenty-first century, as global demand for and dependence
on oil continue to rise. A call is issued for solutions.
Document Type: Research Article
Publication date: 01 June 2004
The Middle East Institute has published The Middle East Journal quarterly since 1947. The Journal provides original and objective research and analysis, as well as source material, on the area from Morocco to Pakistan. The Journal provides the background necessary for an understanding and appreciation of the region's political and economic development, cultural heritage, ethnic and religious diversity.
- Information for Authors
- Submit a Paper
- Subscribe to this Title
- Membership Information
- Information for Advertisers
- Publishers - Books for Review
- Editors Blog
- Ingenta Connect is not responsible for the content or availability of external websites
- Access Key
- Free content
- Partial Free content
- New content
- Open access content
- Partial Open access content
- Subscribed content
- Partial Subscribed content
- Free trial content