The Role of OPEC in Reducing Oil Prices under International Law: The 2014 Downfall and Today’s Relevance

IF 0.2 Q4 LAW
Deymah Alweqyan
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引用次数: 1

Abstract

Fluctuation in the price of oil has been an international concern for decades, because oil is the primary export and main economic driver for many States. OPEC as an international organization is practicing its role in controlling oil prices and oil market under the rules and norms of international law. In 2014, the price of oil decreased tremendously in a way that shocked the international market. OPEC tried to stem the losses and prevent prices from falling even further, and tried to facilitate international law in the current crisis. World markets were further shocked when OPEC announced that it would not cut production, and that the market would be supplied by the usual average amount of oil exports. In contrast, WTO cut its global trade in an attempt to shore up prices in the international markets, since low oil prices affected international trade as well. In this article, I analyze the oil crisis that hit the world from 2014 to the early year of 2016 period, and the role of international organizations such as OPEC and WTO in facing international economic crises, as well as the role of international politics to assure the implementation of law.
欧佩克在国际法下降低油价中的作用:2014年的油价下跌与今天的相关性
几十年来,石油价格波动一直是国际关注的问题,因为石油是许多国家的主要出口产品和主要经济动力。欧佩克作为一个国际组织,正在按照国际法的规则和规范,履行其在控制油价和石油市场方面的作用。2014年,石油价格大幅下跌,震惊了国际市场。欧佩克试图遏制损失,防止价格进一步下跌,并试图在当前危机中促进国际法。当石油输出国组织(OPEC)宣布不会减产,并将以通常的平均石油出口量供应市场时,世界市场进一步震惊。相反,世贸组织削减全球贸易是为了支撑国际市场的价格,因为低油价也影响了国际贸易。在这篇文章中,我分析了从2014年到2016年初袭击世界的石油危机,以及欧佩克和世贸组织等国际组织在面对国际经济危机时的作用,以及国际政治在确保法律实施方面的作用。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
0.40
自引率
50.00%
发文量
8
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