This contributed volume examines the far-reaching effects of the weakening of OPEC's cohesion and influence in the 1980s, the resulting decline of oil prices, and the accompanying economic reversals. These events resulted in both fortune and misfortune for oil users and producers and dramatically changed energy economics worldwide. Moreover, as revealed in this volume, the decade of the 1980s demonstrated that oil producers and oil importers can prosper in an atmosphere of mutual respect, cooperation, and moderation.

The work examines major oil-related topics such as the experiences of OPEC and non-OPEC oil suppliers in the 1980s, adjustment and response of oil importers to changes in the oil market, the impact of oil price changes on both the developed and developing world, and possible future developments in the global oil market. This volume will be of interest to scholars of energy and international economics, as well as professionals in the area of energy development and markets.