ABSTRACT
This conclusion presents some closing thoughts on the concept discussed in the preceding chapter of this book. The book introduces the concepts "market structure" and "market power". It deals with the effect on the oil-producer cooperation of the fact that several of the Organization of the Petroleum Exporting Countries members have been involved in military conflicts with one another. The book then focuses on the internal organization of the oil producers. It analyzes the price and production policies of the Organization of the Petroleum Exporting Countries (OPEC) members from a perspective combining cartel theory and the theory of collective action; and also provides case studies of Saudi Arabia and Norway, respectively. The empirical analysis in the book clearly shows how explanations at different levels of analysis increase the understanding of the dynamics of the international oil market in general and the oil-producer cooperation more specifically.
