The Community of Oil Exporting Countries: A Study in Governmental Co-operation

The Community of Oil Exporting Countries (1972) examines the economic reliance of oil-producing developing countries on oil and their cooperative schemes to protect them from trade receipt fluctuations.

Format: Hardback
Length: 240 pages
Publication date: 12 October 2023
Publisher: Taylor & Francis Ltd

The Community of Oil Exporting Countries (COE) was established in 1972 to address the economic reliance of oil-producing countries in the developing world on oil. This reliance led to a desire to protect these countries from the fluctuations in trade receipts, resulting in cooperative schemes aimed at safeguarding their economic interests.

The COE's primary objective was to stabilize oil prices and ensure a reliable supply of oil to its member states. To achieve this, the organization implemented various measures, including production cuts, export quotas, and price controls. These measures were designed to maintain a balance between supply and demand, ensuring that oil prices remained stable and affordable for consumers.

One of the key achievements of the COE was the establishment of the Organization of the Petroleum Exporting Countries (OPEC). OPEC was formed in 1960 and consisted of 13 oil-producing countries, including Saudi Arabia, Iraq, Kuwait, and Iran. The organization played a significant role in shaping the global oil market and influencing oil prices.

Through its cooperative efforts, the COE was able to achieve a degree of stability in the oil market, which was beneficial for both oil-producing and consuming countries. However, the organization also faced challenges, including disputes over production quotas and the impact of oil prices on the global economy.

In conclusion, the COE played a crucial role in shaping the global oil market and addressing the economic reliance of oil-producing countries in the developing world on oil. Through its cooperative efforts, the organization was able to achieve stability in the oil market and contribute to the development of the global economy. However, the organization also faced challenges, and its impact on the global oil market continues to be a subject of debate and discussion.

Weight: 600g
Dimension: 234 x 156 (mm)
ISBN-13: 9781032575803