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A Test of the OPEC Cartel Hypothesis: 1974-1983

Claudio Loderer
Journal of Finance 1985 40(3), 991
This paper tests whether the higher oil prices of the last decade could have been the result of producer collusion. We find little evidence that OPEC influenced oil prices during the years of skyrocketing prices (1974–1980), but there is evidence that it did so during the recent years of softening prices (1981–1983).

A Test of the OPEC Cartel Hypothesis: 1974–1983

Claudio Loderer
Journal of Finance 1985 40(3), 991-1006
ABSTRACT This paper tests whether the higher oil prices of the last decade could have been the result of producer collusion. We find little evidence that OPEC influenced oil prices during the years of skyrocketing prices (1974–1980), but there is evidence that it did so during the recent years of softening prices (1981–1983).