OPEC AND MARKET SHARE: A CHANGE OF DIRECTION

by Alirio A. Parra

(The following is the text of a paper delivered at the conference on "The Fall and Rise in Oil Prices" in Bergen, Norway on 15 May. Dr. Parra is the Director of the London subsidiary of the Venezuelan state oil company Petroleos de Venezuela).

We are all familiar with the widespread changes, which have affected the structure of the oil industry during the past ten to fifteen years. The industry is now entering a new...