Assessing OPEC’s Performance in Global Energy

摘要: Abstract This article examines OPEC’s performance in regulating output and prices the global oil market during its 50 years of existence. In addition, it discusses key trends that are likely to determine effectiveness years ahead, particularly climate change policies. We find ability control singlehandedly has historically been limited, as a result both internal collective action problems external factors such rise new producers. Furthermore, we policies may negatively impact long-term planning security for investment hence target price bands smooth market. argue OPEC will need become more proactive low-carbon remain part decision making on future energy demand patterns affects main export product. also submit great role play fighting volatility, concern producers consumers, best platform enhanced efforts this regard would probably be International Energy Forum. Policy Implications •  Much debate is one-sided: organization mostly characterized cartel extracting monopoly rents. Instead, emphasis should put potential help managing risks. •  From perspective governance, strong very desirable partner consumers order combat exporters importers. •  Coordination between stimulate transition towards future. The Forum most appropriate this. •  OPEC needs seriously join world’s hedge interests effectively voice claims legitimately burden sharing inevitable adjustment process members undergo.