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Cartel to Player: OPEC Dynamics in the Global Oil Market

Year 2024, Volume: 6 Issue: 1, 132 - 151, 01.05.2024

Ninaad Ghoshal Sanjay Kumar Pradhan

https://doi.org/10.53451/ijps.1361302

Abstract

The OPEC, since its establishment in 1960 as a cartel and regime, has been largely controlling the global energy supply and price regulations, and thus, playing a pivotal role in the global geopolitics of energy security. However, the journey of this inter-governmental organisation till date, as a predominant energy cartel, from cartel dominance and regional geopolitics to global competition and climate change challenges, has not been an easy one. Although OPEC has been going through ups and downs in the global energy market, the requirement of petroleum resources by the global community for economic growth and the developmental process cannot be ignored. Therefore, the role of OPEC is likely to be prominent at least till the mid-2030s as indicated by various energy reports. This research paper is intended to test the hypothesis that in spite of internal dissent and discontent, price war and rise of OPEC+, exploration of shale energy, focus for energy transition, OPEC will have an unmatchable share in the global energy basket and remain a dominant player in the global energy market and geopolitics, at least for the near future. The paper also focuses on how the Russia-Ukraine war has united OPEC and non-OPEC suppliers further to control the global energy market Which benefits both.

Keywords

OPEC Dissent OPEC+ Russia-Ukraine war Shale Energy Transition

References

  • 5th December 2018. https://indianexpress.com/article/explained/explained-qatar-left-opec-how-the-decision-will-impact-oil-prices-india-5478758/. Accessed 27 February 2023.
  • Bahrain, Government of. “Minister of Oil: OPEC Decision Key for Market Stability.” Ministry of Public Information, October 16, 2022. https://www.bna.bh/en/.
  • Barkindo, M. S. (2006) OPEC’s Strategy in Facing the New Energy Challenges. OPEC. https://www.opec.org/opec_web/en/1098.htm. Accessed 17 August 2021.
  • Brief History: Organisation of Petroleum Exporting Countries. https://www.opec.org/opec_web/en/about_us/24.htm. Accessed 2 January 2023.
  • Browser, Derek, and Myles McCormick. “What the End of the US Shale Revolution Would Mean for the World.”
  • Financial Times. Accessed March 13, 2024. https://www.ft.com/content/60747b3b-e6ea-47c0-938d-af515816d0f1.
  • Couzzi, L., & Gould, T. (2021). Renewables 2021 - analysis and forecast to 2026. https://iea.blob.core.windows.net/assets/5ae32253-7409-4f9a-a91d-1493ffb9777a/Renewables2021-Analysisandforecastto2026.pdf. Accessed 27 November 2022.
  • Danielsen, Albert. “OPEC.” Encyclopædia Britannica, January 10, 2017. https://www.britannica.com/topic/OPEC.
  • Daukrou, M. (2006) Energy Outlook: Challenges & Opportunities for OPEC, in The World Economic Forum: A catalyst for improving the world in the 21st Century, World Economic Forum: Geneva. Accessed 6 May 2012.
  • Dissent emerges in Opec. Khaleej Times. 1 April 2015. https://www.khaleejtimes.com/business/dissent-emerges-in-opec. Accessed 2 November 2022.
  • Dissent within OPEC erodes the cartel's power. https://www.iol.co.za/business-report/markets/commodities/dissent-within-opec-erodes-cartels-power-1081666. Accessed 9 November 2022.
  • Fattouh, B., & Economou, A. (2018) OPEC at the Crossroads. Oxford Institute for Energy Studies. http://www.jstor.org/stable/resrep33952. Accessed 16 October 2022.
  • Fattouh, Bassam & Sen, Anupama. (2016). The Past, Present, and Future Role of OPEC. 10.1057/978-1-137-55631-8_3.
  • Fattouh, Bassam, and Andreas Economu. “OPEC at 60: The World with and without OPEC.” OPEC Energy motion, May 7, 2021. https://www.opec.org/opec_web/en/906.htm.
  • Ghoddusi, H., Nili, M., & Rastad, M. (2017) On quota violations of OPEC members. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.3050369. Accessed 23 October 2022.
  • Hayes, Adam. “Organization of the Petroleum Exporting Countries (OPEC).” Investopedia. Accessed March 17, 2024. https://www.investopedia.com/terms/o/opec.asp.
  • Hermandez, M. G. (13 October 2022). US says OPEC cuts ‘moral and military support for Russia’s Ukraine war. https://www.aa.com.tr/en/americas/us-says-opec-cuts-moral-and-military-support-for-russias-ukraine-war/2711068. Accessed 30 December 2022.
  • Khan, Sarmad (2022). Opec keeps the 2022 oil demand forecast unchanged despite inflation and the Ukraine war. https://www.thenationalnews.com/business/energy/2022/09/13/opec-keeps-2022-oil-demand-forecast-unchanged-despite-inflation-and-ukraine-war/. Accessed 30 December 2022.
  • Kilian, L. (14 January 2015) How the Shale Oil Revolution has affected US oil and gasoline prices. https://cepr.org/voxeu/columns/how-shale-oil-revolution-has-affected-us-oil-and-gasoline-prices. Accessed 27 June 2021.
  • Koshty, Miriam. “Https://Www.Downtoearth.Org.in/News/Energy/Renewable-Energy-Use-Is-Growing-but-at-a-Slow-Pace-60935.” Down to Earth, n.d.
  • Methane. https://www.britannica.com/science/greenhouse-gas/Methane. Accessed 9 September 2022.
  • Munro , D. (2022) Renewable Energy Market Update, IEA 1–23
  • Naimoli , S., & Nadislaw , S. (2019) Oil and Gas Industry Engagement on Climate Change: Drivers, Action, and Path Forward. CSIA, pp. 1–33. Accessed 22 June 2022.
  • Nasralla, Shadia (2021) OPEC makes case for fossil fuels at UN climate conference. https://www.reuters.com/business/cop/saudi-minister-says-climate-fight-shouldnt-shun-any-particular-energy-source-2021-11-10/. Accessed 2 November 2022.
  • Nations, U. The Paris Agreement. United Nations. https://www.un.org/en/climatechange/paris-agreement. Accessed 19 December 2022.
  • Nawaz, Rizwan & Adel Sharif (23 May 2022). Fossil fuel extraction could be contributing to climate change by Heating the Earth from within. https://theconversation.com/fossil-fuel-extraction-could-be-contributing-to-climate-change-by-heating-earth-from-within-121331. Accessed 14 December 2022.
  • NEWS, BBC. “OPEC: What Is It and What Is Happening to Oil Prices?” BBC News, June 5, 2023. https://www.bbc.com/news/business-61188579.
  • NEWS, BBC. “OPEC: What Is It and What Is Happening to Oil Prices?” BBC News, June 5, 2023. https://www.bbc.com/news/business-61188579.
  • OPEC's Challenge: Rethinking its Quota System. Oil & Gas Journal. https://www.ogj.com/drilling-production/production-operations/article/17239967/opecs-challenge-rethinking-its-quota-system. Accessed 28 December 2022.
  • Owyang, M. T., & Shell, H. (9 December 2021) The rise of Shale Oil. https://www.stlouisfed.org/on-the-economy/2018/may/rise-shale-oil. Accessed 26 November 2022.
  • Pathak , Kalpana. “Cairn Bets on Shale, Sees 10% Drop in India’s Oil Imports at Peak Output.” The Economic Times, April 18, 2022. https://economictimes.indiatimes.com/industry/energy/oil-gas/cairn-bets-on-shale-sees-10-drop-in-indias-oil-imports-at-peak-output/articleshow/90899540.cms.
  • Petroleum Exporting Countries, O. of. (2009, March). Solemn declarations. https://www.opec.org/opec_web/static_files_project/media/downloads/publications/Solemn_Declaration_I-III.pdf
  • Pineda, M. E. (29 March 2022). Why are oil and gas prices going up: Impact of Russia-Ukraine war. https://www.profolus.com/topics/why-are-oil-and-gas-prices-going-up-impact-of-russia-ukraine-w. Accessed 22 June 2022.
  • Pradhan, S. K. (February 2015). Shale Gas in Indo-US Cooperation. Geopolitics. v (ix): 63.
  • Reed, Stanley. “OPEC and Allies Hold the Cards as Prices and Demand Rise.” The New York Times, June 29, 2021. https://www.nytimes.com/2021/06/29/business/opec-plus-meeting-preview.html.
  • Secret of the seven sisters: The story of oil. Al Jazeera, 5 October 2014. http://www.investbox.com/secret-of-the-seven-sisters-the-story-of-oil/. Accessed 7 December 2022.
  • Shale oil: The boom heard around the world. https://theconversation.com/shale-oil-the-boom-heard-around-the-world-19202. Accessed 15 November 2022.
  • Siripurapu, A., & Chatzky, A. (n.d.). OPEC in a Changing World. Council on Foreign Relations. https://www.cfr.org/backgrounder/opec-changing-world
  • Siripurapu, Anshu, and Andrew Chatsky. “OPEC in a Changing World.” Council on Foreign Relations, March 9, 2022. https://www.cfr.org/backgrounder/opec-changing-world.
  • Siripurapu, Anshu, and Andrew Chatsky. “OPEC in a Changing World.” Council on Foreign Relations, March 9, 2022. https://www.cfr.org/backgrounder/opec-changing-world.
  • Slav, I. (2 October 2018) International Solar Alliance could replace OPEC for world's energy needs, says PM Modi. https://www.news18.com/news/india/international-solar-alliance-could-replace-opec-for-worlds-energy-needs-says-prime-minister-narendra-modi-1896267.html. Accessed 2 November 2019.
  • Slav, Irina. “OPEC’s Influence on Oil Prices to Remain Significant in 2024.” OilPrice.com, December 29, 2023. https://oilprice.com/Energy/Crude-Oil/OPECs-Influence-on-Oil-Prices-To-Remain-Significant-In-2024.html.
  • Smith, Grant (28 September 2021) OPEC Sees Oil Demand Growth to 2035 Unchecked by Climate Fight. https://www.bloomberg.com/news/articles/2021-09-28/opec-sees-oil-demand-growth-to-2035-unchecked-by-climate-fight. Accessed 2 November 2022.
  • The impact of OPEC on climate change. Center for Economic and Policy Research, 4 June 2021. https://www.cepr.net/the-impact-of-opec-on-climate-change/. Accessed 2 May 2022.
  • The price of oil: Climate disruption. 3 February 2016. https://priceofoil.org/thepriceofoil/global-warming/. Accessed 22 May 2021.
  • Trading signals from traders - online trading forecasts. 25 August 2021. https://indexaco.com/education/opec-history-goals-and-functions. Accessed 27 February 2023.
  • Wald, Ellen R. and Jonathan H. Ferziger (16 June 2021). Climate Policies Could Hand Power and Profits Back to OPEC. https://foreignpolicy.com/2021/06/16/climate-goals-opec-oil-prices-energy-crisis-shortages-fossil-fuels/. Accessed 7 November 2021.
  • Weeden, Scott. “Australia Pushes Boundaries on Shale Development.” Hart Energy, January 7, 2014. https://www.hartenergy.com/ep/exclusives/australia-pushes-boundaries-shale-development-20234.
  • Whitaker, Brian (21 October 2021). Climate change: Saudi Arabia and OPEC resisting action on fossil fuels. https://al-bab.com/blog/2021/10/climate-change-saudi-arabia-and-opec-resisting-action-fossil-fuels. Accessed 18 March 2022.
  • Why Qatar has left OPEC, and how the decision will impact oil prices, India. Indian Express. 5th December 2018. https://indianexpress.com/article/explained/explained-qatar-left-opec-how-the-decision-will-impact-oil-prices-india-5478758/. Accessed 11 November 2022.
  • Why Qatar has left OPEC, and how the decision will impact oil prices, India, The Indian Express,
  • Wihbey, John. “Pros and Cons of Fracking: 5 Key Issues " Yale Climate Connections.” Yale Climate Connections, April 26, 2022. https://yaleclimateconnections.org/2015/05/pros-and-cons-of-fracking-5-key-issues/.
  • World adds record new renewable energy capacity in 2020. https://www.irena.org/newsroom/pressreleases/2021/Apr/World-Adds-Record-New-Renewable-Energy-Capacity-in-2020. Accessed 2 September 2021.
  • World energy outlook 2012 – analysis. IEA (2012). https://www.iea.org/reports/world-energy-outlook-2012. Accessed 10 October 2022.

Cartel to Player: OPEC Dynamics in the Global Oil Market

Year 2024, Volume: 6 Issue: 1, 132 - 151, 01.05.2024

Ninaad Ghoshal Sanjay Kumar Pradhan

https://doi.org/10.53451/ijps.1361302

Abstract

The OPEC, since its establishment in 1960 as a cartel and regime, has been largely controlling the global energy supply and price regulations, and thus, playing a pivotal role in the global geopolitics of energy security. However, the journey of this inter-governmental organisation till date, as a predominant energy cartel, from cartel dominance and regional geopolitics to global competition and climate change challenges, has not been an easy one. Although OPEC has been going through ups and downs in the global energy market, the requirement of petroleum resources by the global community for economic growth and the developmental process cannot be ignored. Therefore, the role of OPEC is likely to be prominent at least till the mid-2030s as indicated by various energy reports. This research paper is intended to test the hypothesis that in spite of internal dissent and discontent, price war and rise of OPEC+, exploration of shale energy, focus for energy transition, OPEC will have an unmatchable share in the global energy basket and remain a dominant player in the global energy market and geopolitics, at least for the near future. The paper also focuses on how the Russia-Ukraine war has united OPEC and non-OPEC suppliers further to control the global energy market Which benefits both.

Keywords

OPEC Dissent OPEC+ Russia-Ukraine war Shale Energy Transition

References

  • 5th December 2018. https://indianexpress.com/article/explained/explained-qatar-left-opec-how-the-decision-will-impact-oil-prices-india-5478758/. Accessed 27 February 2023.
  • Bahrain, Government of. “Minister of Oil: OPEC Decision Key for Market Stability.” Ministry of Public Information, October 16, 2022. https://www.bna.bh/en/.
  • Barkindo, M. S. (2006) OPEC’s Strategy in Facing the New Energy Challenges. OPEC. https://www.opec.org/opec_web/en/1098.htm. Accessed 17 August 2021.
  • Brief History: Organisation of Petroleum Exporting Countries. https://www.opec.org/opec_web/en/about_us/24.htm. Accessed 2 January 2023.
  • Browser, Derek, and Myles McCormick. “What the End of the US Shale Revolution Would Mean for the World.”
  • Financial Times. Accessed March 13, 2024. https://www.ft.com/content/60747b3b-e6ea-47c0-938d-af515816d0f1.
  • Couzzi, L., & Gould, T. (2021). Renewables 2021 - analysis and forecast to 2026. https://iea.blob.core.windows.net/assets/5ae32253-7409-4f9a-a91d-1493ffb9777a/Renewables2021-Analysisandforecastto2026.pdf. Accessed 27 November 2022.
  • Danielsen, Albert. “OPEC.” Encyclopædia Britannica, January 10, 2017. https://www.britannica.com/topic/OPEC.
  • Daukrou, M. (2006) Energy Outlook: Challenges & Opportunities for OPEC, in The World Economic Forum: A catalyst for improving the world in the 21st Century, World Economic Forum: Geneva. Accessed 6 May 2012.
  • Dissent emerges in Opec. Khaleej Times. 1 April 2015. https://www.khaleejtimes.com/business/dissent-emerges-in-opec. Accessed 2 November 2022.
  • Dissent within OPEC erodes the cartel's power. https://www.iol.co.za/business-report/markets/commodities/dissent-within-opec-erodes-cartels-power-1081666. Accessed 9 November 2022.
  • Fattouh, B., & Economou, A. (2018) OPEC at the Crossroads. Oxford Institute for Energy Studies. http://www.jstor.org/stable/resrep33952. Accessed 16 October 2022.
  • Fattouh, Bassam & Sen, Anupama. (2016). The Past, Present, and Future Role of OPEC. 10.1057/978-1-137-55631-8_3.
  • Fattouh, Bassam, and Andreas Economu. “OPEC at 60: The World with and without OPEC.” OPEC Energy motion, May 7, 2021. https://www.opec.org/opec_web/en/906.htm.
  • Ghoddusi, H., Nili, M., & Rastad, M. (2017) On quota violations of OPEC members. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.3050369. Accessed 23 October 2022.
  • Hayes, Adam. “Organization of the Petroleum Exporting Countries (OPEC).” Investopedia. Accessed March 17, 2024. https://www.investopedia.com/terms/o/opec.asp.
  • Hermandez, M. G. (13 October 2022). US says OPEC cuts ‘moral and military support for Russia’s Ukraine war. https://www.aa.com.tr/en/americas/us-says-opec-cuts-moral-and-military-support-for-russias-ukraine-war/2711068. Accessed 30 December 2022.
  • Khan, Sarmad (2022). Opec keeps the 2022 oil demand forecast unchanged despite inflation and the Ukraine war. https://www.thenationalnews.com/business/energy/2022/09/13/opec-keeps-2022-oil-demand-forecast-unchanged-despite-inflation-and-ukraine-war/. Accessed 30 December 2022.
  • Kilian, L. (14 January 2015) How the Shale Oil Revolution has affected US oil and gasoline prices. https://cepr.org/voxeu/columns/how-shale-oil-revolution-has-affected-us-oil-and-gasoline-prices. Accessed 27 June 2021.
  • Koshty, Miriam. “Https://Www.Downtoearth.Org.in/News/Energy/Renewable-Energy-Use-Is-Growing-but-at-a-Slow-Pace-60935.” Down to Earth, n.d.
  • Methane. https://www.britannica.com/science/greenhouse-gas/Methane. Accessed 9 September 2022.
  • Munro , D. (2022) Renewable Energy Market Update, IEA 1–23
  • Naimoli , S., & Nadislaw , S. (2019) Oil and Gas Industry Engagement on Climate Change: Drivers, Action, and Path Forward. CSIA, pp. 1–33. Accessed 22 June 2022.
  • Nasralla, Shadia (2021) OPEC makes case for fossil fuels at UN climate conference. https://www.reuters.com/business/cop/saudi-minister-says-climate-fight-shouldnt-shun-any-particular-energy-source-2021-11-10/. Accessed 2 November 2022.
  • Nations, U. The Paris Agreement. United Nations. https://www.un.org/en/climatechange/paris-agreement. Accessed 19 December 2022.
  • Nawaz, Rizwan & Adel Sharif (23 May 2022). Fossil fuel extraction could be contributing to climate change by Heating the Earth from within. https://theconversation.com/fossil-fuel-extraction-could-be-contributing-to-climate-change-by-heating-earth-from-within-121331. Accessed 14 December 2022.
  • NEWS, BBC. “OPEC: What Is It and What Is Happening to Oil Prices?” BBC News, June 5, 2023. https://www.bbc.com/news/business-61188579.
  • NEWS, BBC. “OPEC: What Is It and What Is Happening to Oil Prices?” BBC News, June 5, 2023. https://www.bbc.com/news/business-61188579.
  • OPEC's Challenge: Rethinking its Quota System. Oil & Gas Journal. https://www.ogj.com/drilling-production/production-operations/article/17239967/opecs-challenge-rethinking-its-quota-system. Accessed 28 December 2022.
  • Owyang, M. T., & Shell, H. (9 December 2021) The rise of Shale Oil. https://www.stlouisfed.org/on-the-economy/2018/may/rise-shale-oil. Accessed 26 November 2022.
  • Pathak , Kalpana. “Cairn Bets on Shale, Sees 10% Drop in India’s Oil Imports at Peak Output.” The Economic Times, April 18, 2022. https://economictimes.indiatimes.com/industry/energy/oil-gas/cairn-bets-on-shale-sees-10-drop-in-indias-oil-imports-at-peak-output/articleshow/90899540.cms.
  • Petroleum Exporting Countries, O. of. (2009, March). Solemn declarations. https://www.opec.org/opec_web/static_files_project/media/downloads/publications/Solemn_Declaration_I-III.pdf
  • Pineda, M. E. (29 March 2022). Why are oil and gas prices going up: Impact of Russia-Ukraine war. https://www.profolus.com/topics/why-are-oil-and-gas-prices-going-up-impact-of-russia-ukraine-w. Accessed 22 June 2022.
  • Pradhan, S. K. (February 2015). Shale Gas in Indo-US Cooperation. Geopolitics. v (ix): 63.
  • Reed, Stanley. “OPEC and Allies Hold the Cards as Prices and Demand Rise.” The New York Times, June 29, 2021. https://www.nytimes.com/2021/06/29/business/opec-plus-meeting-preview.html.
  • Secret of the seven sisters: The story of oil. Al Jazeera, 5 October 2014. http://www.investbox.com/secret-of-the-seven-sisters-the-story-of-oil/. Accessed 7 December 2022.
  • Shale oil: The boom heard around the world. https://theconversation.com/shale-oil-the-boom-heard-around-the-world-19202. Accessed 15 November 2022.
  • Siripurapu, A., & Chatzky, A. (n.d.). OPEC in a Changing World. Council on Foreign Relations. https://www.cfr.org/backgrounder/opec-changing-world
  • Siripurapu, Anshu, and Andrew Chatsky. “OPEC in a Changing World.” Council on Foreign Relations, March 9, 2022. https://www.cfr.org/backgrounder/opec-changing-world.
  • Siripurapu, Anshu, and Andrew Chatsky. “OPEC in a Changing World.” Council on Foreign Relations, March 9, 2022. https://www.cfr.org/backgrounder/opec-changing-world.
  • Slav, I. (2 October 2018) International Solar Alliance could replace OPEC for world's energy needs, says PM Modi. https://www.news18.com/news/india/international-solar-alliance-could-replace-opec-for-worlds-energy-needs-says-prime-minister-narendra-modi-1896267.html. Accessed 2 November 2019.
  • Slav, Irina. “OPEC’s Influence on Oil Prices to Remain Significant in 2024.” OilPrice.com, December 29, 2023. https://oilprice.com/Energy/Crude-Oil/OPECs-Influence-on-Oil-Prices-To-Remain-Significant-In-2024.html.
  • Smith, Grant (28 September 2021) OPEC Sees Oil Demand Growth to 2035 Unchecked by Climate Fight. https://www.bloomberg.com/news/articles/2021-09-28/opec-sees-oil-demand-growth-to-2035-unchecked-by-climate-fight. Accessed 2 November 2022.
  • The impact of OPEC on climate change. Center for Economic and Policy Research, 4 June 2021. https://www.cepr.net/the-impact-of-opec-on-climate-change/. Accessed 2 May 2022.
  • The price of oil: Climate disruption. 3 February 2016. https://priceofoil.org/thepriceofoil/global-warming/. Accessed 22 May 2021.
  • Trading signals from traders - online trading forecasts. 25 August 2021. https://indexaco.com/education/opec-history-goals-and-functions. Accessed 27 February 2023.
  • Wald, Ellen R. and Jonathan H. Ferziger (16 June 2021). Climate Policies Could Hand Power and Profits Back to OPEC. https://foreignpolicy.com/2021/06/16/climate-goals-opec-oil-prices-energy-crisis-shortages-fossil-fuels/. Accessed 7 November 2021.
  • Weeden, Scott. “Australia Pushes Boundaries on Shale Development.” Hart Energy, January 7, 2014. https://www.hartenergy.com/ep/exclusives/australia-pushes-boundaries-shale-development-20234.
  • Whitaker, Brian (21 October 2021). Climate change: Saudi Arabia and OPEC resisting action on fossil fuels. https://al-bab.com/blog/2021/10/climate-change-saudi-arabia-and-opec-resisting-action-fossil-fuels. Accessed 18 March 2022.
  • Why Qatar has left OPEC, and how the decision will impact oil prices, India. Indian Express. 5th December 2018. https://indianexpress.com/article/explained/explained-qatar-left-opec-how-the-decision-will-impact-oil-prices-india-5478758/. Accessed 11 November 2022.
  • Why Qatar has left OPEC, and how the decision will impact oil prices, India, The Indian Express,
  • Wihbey, John. “Pros and Cons of Fracking: 5 Key Issues " Yale Climate Connections.” Yale Climate Connections, April 26, 2022. https://yaleclimateconnections.org/2015/05/pros-and-cons-of-fracking-5-key-issues/.
  • World adds record new renewable energy capacity in 2020. https://www.irena.org/newsroom/pressreleases/2021/Apr/World-Adds-Record-New-Renewable-Energy-Capacity-in-2020. Accessed 2 September 2021.
  • World energy outlook 2012 – analysis. IEA (2012). https://www.iea.org/reports/world-energy-outlook-2012. Accessed 10 October 2022.
There are 54 citations in total.

Details

Primary Language English
Subjects International Relations (Other)
Journal Section Articles
Authors

Ninaad Ghoshal 0009-0003-3099-2223

Sanjay Kumar Pradhan 0000-0002-3873-999X

Publication Date May 1, 2024
Submission Date September 15, 2023
Acceptance Date April 11, 2024
Published in Issue Year 2024 Volume: 6 Issue: 1

Cite

Chicago Ghoshal, Ninaad, and Sanjay Kumar Pradhan. “Cartel to Player: OPEC Dynamics in the Global Oil Market”. International Journal of Politics and Security 6, no. 1 (May 2024): 132-51. https://doi.org/10.53451/ijps.1361302.
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