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Article: Market share and lower crude prices seem OPEC's only choice.
- Article from:
- National Petroleum News
- Article date:
- February 1, 1994
- Author:
CopyrightCOPYRIGHT 1994 M2Media360. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Nobody has to explain to petroleum marketers that market share plays a powerful role. In the heyday of independent gasoline marketing a couple of decades ago, profits were often sacrificed for market share--in the spirit that "Nobody's going to push me around." They called it muscle pricing.
OPEC's market-share strategy appears to be mostly of the muscle type now, and there's growing belief by analysts that changing conditions in world oil are discouraging OPEC from altering that strategy.
Non-OPEC producers, particularly those in the North Sea, are challenging OPEC's market share. OPEC eyes non-OPEC market share gravely, especially since leading OPEC ...