一條關於OPEC的oligopoly問題(20分)

The members of OPEC now are (Iran, Iraq, Kuwait, Saudi Arabia, Venezuela), Algeria, Indonesia, Libya, Nigeria, Qatar and UAE total eleven. The organization was founded by the five founding member countries in 1960 for the collaboration of crude oil production of each member country, and to support its market price against the oil buyers through cooperative production control, thus they would obtain the greatest income (the best combination of quantity x unit price) under least degree of competition environment (oligopoly). The crude oil production shared by the OPEC members is more than 90% of the world production and the others are producing by those newly developing crude oil producing countries, which are Britain, Norway, Russia and China, however China's crude oil is not exporting, and these countries would have less influence on market price due to small output
According to the news of NY Times in Nov 1993
a) OPEC failed to make consent among the member countries to cut oil production, thus market price was going to slump back to the price level in 1990.
b) Since the demand was less than supply at that moment, there was likely over production among OPEC member countries, because price was very elastic to demand, OPEC could not charge high price when demand was going down or/and supply was going up.
The member countries of OPEC vary in country size, economic conditions, crude oil production volumes and costs, therefore they failed to make consent by reducing production volume in proportion, and they could not control those non-member countries (Britain and Norway) if they would reduce their outputs cooperatively, they were also afraid of their reduction that could be taken or replaced by those non-member countries.

c) In order to sustain the income and protect the interests of all oil producing countries, the member countries of OPEC desire and urge the non-member countries that should be standing with them on the same line.

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2006-10-31 23:57:56 補充：
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