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- The share of world oil production provided by members of the Organization of Petroleum Exporting Countries (OPEC) declined by 25 percentage points between 1973 and 1985.
- OPEC's market share was at it's lowest prior to the major collapse in oil prices in 1986.
- OPEC's market share has rebounded since the 1986 price collapse and now stands at about 43 percent of world oil production.
- Unlike most other countries, a major portion of OPEC's oil is traded in international markets. OPEC consumes very little of its own oil.
- The largest portion of OPEC's oil production is in those countries that surround the Persian Gulf.
Source: Energy Information Administration, Annual Energy Review 1997, DOE/EIA- 0384(97). (Washington, DC, July 1998), Table 11.4.
