📄 Abstract
Petroleum oil has served as a catalyst for the industrial revolution of Europe and the entire Northern hemisphere. It also brought about enormous prosperity, and general development for oil producing countries of the world. At a point, the Organization of the Petroleum Exporting Countries (OPEC), dominated and exclusively dictated the marketing of crude petroleum oil worldwide. Unwinding global events made the Non-OPEC countries to re-strategized by stepping-up actions in crude petroleum oil production to meet up with their domestic consumption needs. The study is a qualitative one. Document studies were adopted and utilized in generating data from secondary sources. Documents scrutinized include: books, journals, bulletins, policy papers, newspapers and internet materials. The generated data were analyzed through discourse and explanatory methods; where numerical ones were analyzed through descriptive and explanatory methods. The implication of this soaring crude oil production of the Non-OPEC countries is that, the OPEC cartel with time will be faced with low oil prices and subsequently dwindling economies. The non-strategic utilization of the enormous oil wealth by OPEC members to step-up further crude oil production and diversify their oil industries, forms the main motivation for the study.
🏷️ Keywords
📚 How to Cite:
Bailey Saleh PhD , EMPIRICAL COMPARISON OF CRUDE OIL PRODUCTION OF NON-OPEC OIL INDUSTRY WITH OPEC OIL INDUSTRY IN THE 2011-2021 , Volume 14 , Issue 1, January 2026, EPRA International Journal of Economic Growth and Environmental Issues (EGEI) ,