VOL. XXXI

NO. 45

15-AUGUST-1988

THE NEW OIL PRICE REGIME

by Dr. Maj id A. Moneef, Department of Economics, King Saud University, Riyadh

Many oil analysts agree today that the oil market is in a state of transition and a new oil price regime will emerge from the slack market of the eighties. Such a regime involves an interaction between market forces and the policies of oil producers, whether unilateral or structured in an OPEC framework.

When the oil industry had a high degree of concentration and...