OPEC, Oil Prices and Problems for the International Accounting Standards
Alex Russell and Mas'ud Usman Ibrahim
The authors briefly review the literature on the performance of the Organization of the Oil Exporting Companies (OPEC) in its attempts to stabilize oil prices. It also considers how the high price of oil has enabled certain non-OPEC countries to become major players as oil and gas producers and what the potential implications are for accounting standard regulators given the risks attached to identifying viable reserves of oil and gas.
OPEC, Oil Prices and Problems for the International Accounting Standards. Russell, Alex and Ibrahim, Mas'ud Usman, Summer 2013, pp. 1‑11.