International records / Foreign Relations of the United States

333. Paper Prepared in the Office of Economic Research, Central Intelligence Agency

80–B01495R, Box 5. 8010/74 Washington , March 5, 1974 . [Omitted here is a title page.] THE FUTURE OF OPEC AS A CARTEL OPEC The members of the Organization of Petroleum Exporting Countries are Algeria, Ecuador, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, and Venezuela. [Footnote in the original.] is often described as a producers’ cartel, and, although it has occasionally threatened to act as one, it has not yet been put to the test. The group has never been forced to act in the traditional manner of a cartel by cutting production in order to raise…