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An Oil Market Without OPEC!

Alforgi M. Zaid

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Abstract

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

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What this paper is about

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

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Available abstract

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

Key concepts: Monopoly, Supply and demand, Globalization, Free market, Economics, Production (economics), Industrial organization, Oil supply

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