OPEC, the WTO, Regionalism and Unilateralism
Article from: OGEL Archive issue , in Roundup of Articles
Background
The Organization of Petroleum Exporting Countries (OPEC) and the World Trade Organization (WTO) are two of the most visible international economic institutions today. But, they are often associated with two diametrically opposed players in the global economy: the WTO with the sometimes savage rules of the market and OPEC with the often demonised intergovernmental manipulation of prices. Many believe that OPEC and the WTO do not have anything in common, arguing that OPEC's domain of oil resource management does not have anything to do with the WTO. Indeed, every time oil succeeds in ...