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OPEC behavior: The volume of oil reserves announced

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  • Behrouzifar, Morteza
  • Siami Araghi, Ebrahim
  • Emami Meibodi, Ali

Abstract

OPEC procedures dictate that all member states should notify the volume of their crude oil reserves to the organization secretariat so that OPEC would reflect the figures in its official published materials. Many OPEC states say that it is not feasible to investigate the amount of their oil reserves through independent observers, believing this is a confidential issue. In fact, a contradiction appears to exist between the data for each oil field and the figures publicly announced for the fields on aggregate. This comes under the pretext of existing doubts about the volume of declared reserves.

Suggested Citation

  • Behrouzifar, Morteza & Siami Araghi, Ebrahim & Emami Meibodi, Ali, 2019. "OPEC behavior: The volume of oil reserves announced," Energy Policy, Elsevier, vol. 127(C), pages 500-522.
    • Handle: RePEc:eee:enepol:v:127:y:2019:i:c:p:500-522
    DOI: 10.1016/j.enpol.2018.10.037
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