An Oil Market Without OPEC!

摘要

Oil prices rarely reflected those of a free market. The history ofthe oil industry documents several instances of monopoly andprice fixing. In the last decade however, globalization and theensuing economic policies raised the possibility that the oilmarket may finally be free from production and price controls.This paper will analyze the oil supply and demand patterns underscenarios of free market and will predict short and long-termprice patterns under these conditions.