Search results
Results From The WOW.Com Content Network
OPEC decisions have come to play a prominent role in the global oil-market and in international relations. Economists have characterized OPEC as a textbook example of a cartel [9] (a group whose members cooperate to reduce market competition) but one whose consultations may be protected by the doctrine of state immunity under international law ...
An example of an economic cartel is OPEC, where oligopolistic countries control the worldwide oil supply, leaving a profound influence on the international price of oil. [ 70 ] There are legal restrictions on cartels in most countries, with regulations and enforcement against cartels having been enacted since the late 1990s. [ 71 ]
The Union of Banana Exporting Countries (Spanish: Unión de Países Exportadores de Banano or UPEB) was a cartel of Central and South American banana exporting countries established in 1974, inspired by OPEC. Its aim was to achieve better remuneration from the North American banana trade oligopoly, which consisted of three US companies.
Kazakhstan is among the group of OPEC allies that have joined with the oil cartel to form OPEC+. The Central Asian country pumped about 1.8 million barrels per day late last year .
The U.S. and its allies want to bring the entire chip supply chain in-house—and that could create an OPEC-style cartel for the digital age Jaemin Lee March 28, 2024 at 5:00 PM
If OPEC's oil economy becomes unstable, then the oil production of the member nations may become unstable as well. Hence some nations might choose to quit the organization in order to stabilize their oil sectors. [11] Since OPEC is the dominant entity in the Megacorpstate, fluctuations in its performance will affect the market accordingly.
Headquarters of the Rhenish-Westphalian Coal Syndicate, Germany (at times the best known cartel in the world), around 1910. A cartel is a group of independent market participants who collude with each other as well as agreeing not to compete with each other [1] in order to improve their profits and dominate the market.
By modeling the swing producer behavior, John Morecroft describes two modes: normal swing mode and punitive mode. Usually in the normal mode, the swing producer responds to market price fluctuations by marginally increasing or decreasing its output in order to maintain stable prices for all producers.