Cooperation of OPEC Members under Conditions of High Volatility of Oil Prices

Student: Albov Gleb

Faculty: Faculty of World Economy and International Affairs

Educational Programme: World Economy (Bachelor)

Year of Graduation: 2017

In 2014 there has began a severe oil crisis. Oil prices fell more than 3 times. Organization of the Petroleum Exporting Countries (OPEC) was trying to coordinate the policies of key players, in order to influence prices, but nothing has happened. At the same time, some member countries have begun to conduct their own policies aimed at the rearranging of the oil market. In this paper I am going to analyze these policies and identify factors affecting them. I will also conduct a comprehensive analysis of the OPEC functioning and specify it's weak points.

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