OPEC

A glut of oil, dropping prices, the threat of insolvency, a divided membership-these developments in the early weeks of 1985 underline the cogency of Mohammed Ahrari's historical study of the OPEC oil cartel and his argument that economic forces, not politics, determine OPEC's action in the world arena.The impetus for the formation of OPEC in 1960 was the desire of the oil-producing states for gre...