ABSTRACT
The availability of new crude oil streams from the non-Organisation of Petroleum Exporting Country (OPEC) countries, generally closer to main consumer markets than many OPEC countries, also had a structural impact. Governments in most large oil-exporting countries have taken effective control over their crude oil production and marketing since 1973. Change has occurred in all sectors of the industry, from the upstream where crude oil is discovered and produced to the downstream areas of refining and marketing. The experience of 1978-1979 showed that although oil information had improved, much work remained. Since 1981, during a period of declining crude oil prices, governments of oil-producing countries became increasingly interested in better information as OPEC countries sought to set and enforce production quotas. The majors acquire most OPEC crude through transactions with unaffiliated parties. The major oil companies have maintained a central role.
