EPRG researcher discusses OPEC's performance at Oxford University

EPRG researcher Andreas Goldthau presented in the Global Politics of Energy seminar of DPIR, Oxford University. Taking place on 22 February 2011, the event was co-hosted by St. Peter's College. In his lecture, Goldthau critically discussed OPEC's performance in governing the oil market throughout the organization's 50 years of existence. He argued that common perceptions on OPEC do not match reality. In fact, OPEC has been driven by market forces and external events rather than determining oil market developments. In that, the organization fell short of acting as a proper cartel and has ben able to exert real power only during times of a sellers' market.