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Article
Domestic Demand for Petroleum in OPEC Countries
OPEC Review (2000)
  • Ujjayant N Chakravorty, Tufts University
  • Fereidun Fesharaki
  • Shuoying Zhou
Abstract
The literature on OPEC energy policy has focused primarily on its production and export potential. The rapidly increasing domestic demand for petroleum products in OPEC countries has often been ignored. This study estimates domestic demand for petroleum products by the major OPEC economies and forecasts consumption trends under alternative assumptions regarding economic growth and price deregulation. It concludes that product demand is generally price and income inelastic and thus domestic consumption in OPEC will continue to grow rapidly, even if domestic prices are raised closer to world levels in the near future.
Publication Date
2000
Citation Information
Ujjayant N Chakravorty, Fereidun Fesharaki and Shuoying Zhou. "Domestic Demand for Petroleum in OPEC Countries" OPEC Review (2000)
Available at: http://works.bepress.com/chakravorty/28/