The oild market in the 1980s is the first study to introduce a model for predicting the oil market based on an assessment of both political and economic issues. Beginning with a history of the major events in the international oil market during the last two decades, Aperjis discusses the political formation of OPEC. He then develops a composite supply curve for OPEC by dividing the OPEC countries into four different subgroups according to geographical characteristics of their oild reserves and the economic and political conditions prevailing in each country. The final OPEC oil policy emerges as a compromise among the different policies of the four subgroups.