OPEC-consumer cooperation needed to ensure adequate future oil supply

In assessing the prospects for the continued ability of the Organization of Petroleum Exporting Countries to meet future oil demand, it is necessary to present the concept of oil production capacity as a multidisciplinary subject.Thus it is critical to focus on the subject's three most important aspects: The technical aspects include (a) the discovery of oil, (b) the development of undeveloped reserves into production capacity, and (c) the maintenance of those capacities. It is important to remember that those technical operations require an evaluation of costs and profitability and the provision of capital.On the subject of policy analysis, we will examine the decision-making pro- ce...

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