The world of oil and OPEC (the Organisation of Petroleum Exporting Companies) has often been misunderstood or seen as shrouded in mystique and myth. On the 50th anniversary of the foundation of OPEC, Fadhil Chalabi, a former 'insider' who spent many years at the heart of this organisation, dispels myths and invites us to discover the realities, environment and evolution of policies that have shaped OPEC and the oil industry. One of Carlos the Jackal's OPEC hostages in 1975, the author interweaves his analysis with first-hand experiences that give authenticity to momentous events, from the time of Egypt under Nasser, Gaddafi's Libya and Saddam's Iraq. Oil Policies, Oil Myths explores the continuing importance of oil while examining the geopolitical influences that cause oil crises and price hikes and which undermine oil's future. Chalabi's expertise illuminates OPEC's role in this, while showing its successes and its failures. Oil for the countries of OPEC has been pivotal in their political and economic development, but it is also a crucial tool in their diplomatic relations with the oil-consuming nations of the East and West. This book is essential reading for those who wish to look beyond the myths of oil and of OPEC, scrutinize oil policies and an organisation that is perceived by the press as legendary for its opacity, and to understand OPEC's dramatic impact on the global energy industry, on world politics and economics.