An Analysis of the determining factors and influence of OPEC on quota allocation and price mechanisms in oil and gas production
Date
2024
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
International Journal of Law and Clinical Legal Education (IJOLACLE)
Abstract
History and Formation of OPEC. African Petroleum Producers Organization. Importance of OPEC’s Quota Allocation. Mechanisms for Quota Allocation. Pricing Regimes in oil and Gas Production. Challenges of OPEC’s Quota Allocation System.
Description
This research appraised the role played by the organization in the quota allocation and pricing regime as well as the challenges faced by the organization in regulating and monitoring the activities of its members as well as non-members. Oil and gas policies from the perspective of OPEC and the future of the organization is now at stake from non-members, it is therefore imperative for this research to appraise the future of the organization with a view to determining the chances of its existence.