LO8 - OPEC Embargo (1973) – “First Oil Shock” Rising...

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INTB 3351 Lecture Outline The Globalization of Oil, 1945-1986 1. Post-WWII Supply System Saudi Arabia Aramco (Arab American Oil Company) Tapline and Truman Doctrine “50-50 Split” Iran Anglo-Persian Oil Company (BP) Overthrow of Mossadegh Suez Crisis (1956) Challenge from Mattei and ENI 2. Rise of OPEC Changes in world oil economy in the 1950s Founding and strengthening of OPEC in 1960s
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Unformatted text preview: OPEC Embargo (1973) – “First Oil Shock” Rising prices, renegotiations of oil concessions in the 1970s, NOCs Iranian Revolution (1979) – “Second Oil Shock” 3. OPEC Undermined Growth in non-OPEC production: Alaska, North Sea, Mexico OPEC failed to enforce production quotas Oil price collapse, 1985-1986 Terms Concession Aramco OPEC Ghawar Enrico Mattei Muammar al-Qaddafi...
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This note was uploaded on 11/09/2011 for the course INTB 3353 taught by Professor Prodan during the Fall '08 term at University of Houston.

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