VOL. XXXIV

NO. 35

3-JUNE-1991

OPEC In The 1990s

by Ian Seymour

The following is the text of an address delivered by MEES Editor Ian Seymourat the conference on "Oil and Gas in the 1990s: Prospects forCooperation" in Isfahan, Iran, on 28 May.

When OPEC finally completed the process of wresting the power ofdecision-making over crude oil pricing from the major oil companies in the early1970s, it was able for nearly a decade to exercise virtual control over crudeprices. That is to say that the official...