AN ANALYSIS OF THE DETERMINING FACTORS AND INFLUENCE OF OPEC ON QUOTA ALLOCATION AND PRICE MECHANISMS IN OIL AND GAS PRODUCTION

Abstract

The Organization of Petroleum Exporting Countries [OPEC] since inception, has been playing a regulatory role in the oil and gas industry especially in the pricing and quota allocation regime. This role does not stop price volatility and quota allocation summersault. Perhaps other determining factors influenced and aided the problem. This research appraised the role played by the Organization in the quota allocation and Pricing regime as well as the challenges faced by the organization in regulating and monitoring the activities of its members as well as non-members. Oil and Gas policies from the perspective of OPEC and the future of the Organization is now at stake from non-members, it is therefore imperative for this research to appraise the future of the Organization with a view to determining the chances of its existence.