ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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OPEC's Price-Making Power

The Organisation of Petroleum Exporting Countries is a dominant cartel consisting of producers with large reserves and it has always exercised its price-making power in the crude oil market. However, in the past few years, OPEC has been claiming that it has lost its power to alter crude oil prices. The article explores whether OPEC's claim is correct.

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