OPEC+ as a new governor in Global Energy Governance

Revista UNISCI

Rafał Ulatowski¹ 

[1] University of Warsaw;

关键词: opec;    global energy governance;    crude oil;    saudi arabia;    russia;    international cooperation;   

DOI  :  10.31439/UNISCI-94

来源: DOAJ

【 摘 要 】

This article tries to evaluate the roots of the OPEC+ agreement, how it operates, and its prospects for the future. It argues that OPEC+ is a new governor in the Global Energy Governance (GEG) “regime complex”. It grew out of a convergence of the interests and capabilities of OPEC and non-OPEC exporters. The article shows that the emergence of OPEC+ is a consequence of over three decades of competition and occasional cooperation between exporters united in OPEC and those outside the organization. That cooperation was always a consequence of the price war and the demand of OPEC members for cooperation with non-OPEC exporters. Intensive consultations and three agreements on production cuts between both groups of countries in the years 2016-2019 made it possible to begin the institutionalization of cooperation among them. Cooperation within the OPEC+ agreement is non-formalized, based on government-to-government negotiations, and flexible. The signatories to the OPEC + agreement decided to avoid founding any formal IGO, and OPEC + continues to exist as a summit process.

【 授权许可】

Unknown