In 2010, the Organization of Petroleum Exporting Countries (OPEC) marked its 50th anniversary. Only few international institutions have received as much public attention as the cartel of oil-producing countries. In fact, over the years, OPEC has become almost synonymous with the age of oil. Yet, the reach and impact of OPEC has remained a much debated topic. While some observers suggest that OPEC is a powerful cartel controlling prices and outputs, others have suggested that the organization – perhaps with the exception of the early 1970s – has remained a toothless tiger, unable to leverage its potential due to the fractiousness of its membership.

With resources becoming increasingly scarce in the new millennium, the public debate has shifted again. Many observers now see OPEC as a credible player again, and perhaps even as a blueprint for an association of major gas producers. Yet, the reach and influence of OPEC remains far from clear.

Project Objectives

This project critically assesses the role of OPEC in the global oil market, and in global energy governance. The objective of the project is to understand OPEC’s historical performance, and to develop an understanding of its role and potential in the 21st century. In particular, the project puts an emphasis on the role of producer cooperation in a changing oil market and against the backdrop of climate change.

Output

The project aims at contributing to both policy and academic debates through several output formats. This includes the publication of two monographs ("Die OPEC: Macht und Ohnmacht des Öl-Kartells" : Hanser Verlag; and "OPEC and Power. How the Prize eludes the cartel": ABC Clio/Praeger - forthcoming); involvement in and contribution to major research projects on global energy, namely in the S.T. Lee Project on Global Governance of the Lee Kuan Yew School of Public Policy (LKYSPP) and its Centre on Asia and Globalisation (CAG); and through public debates, particularly in the context of GPPi's Global Energy Governance Policy breakfasts.