The Evolution and Role of Non-OPEC Production in the International Oil Market

In 1982, for the first time since OPEC was founded in 1961, its production was surpassed by the non-OPEC countries in the world excluding the centrally planned economies. In that year, for the world as a whole, OPEC provided 35% of the oil consumed. The decline was brought about by a decrease in consumption and by a marked increase in production from non-OPEC sources. It is expected that non-OPEC producers will have the capacity to meet more than half of the world's oil requirements until the early 1990s, at which time OPEC producers will again assume the role of providing over 50% of the world's oil.