The impact of the Arab revolutions on the decision-making process in the Organization of the Petroleum Exporting Countries (OPEC)

Document Type : Original Article

Authors

1 Faculty of Economics and Political Science Cairo University

2 Faculty of Economics and Political Sciences, Cairo University

Abstract

The current study aimed to reveal the impact of Arab revolutions on the decision-making process of the Organization of Petroleum Exporting Countries (OPEC). The study used the inductive, analytical and historical method. The results of the study indicate that the Arab revolutions that took place in the beginning of 2011 were characterized by a political nature and economic effects that affected the Arab arena as a whole. Furthermore, OPEC decision-making is built on the individual and current benefit of the members of the Organization of Petroleum Exporting Countries. The results also showed that And that the internal political crises in the Middle East region, especially in the OPEC countries, affected the process of decision making in terms of quantity and prices in the Organization of Petroleum Exporting Countries such as conflicts on the oil wells near Kirkuk and the Yemeni political tensions and the war on the Houthis and Arab spring revolutions. The study recommended that the Organization of Petroleum Exporting Countries (OPEC) should take vigorous measures to maintain its production and prices in the market in light of the revolutions in the Arab arena

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