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OPEC is the organization of petroleum exporting countries. OPEC rolls out regulations to control the prices of petroleum products in fair markets by determining production of oil in various locations.
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How fair is OPEC in controlling prices?
OPEC is the organization of petroleum exporting countries. OPEC rolls out regulations to control the prices of petroleum products in fair markets by determining production of oil in various locations.
What is the chief mandate of OPEC?
attempt to set world oil prices by controlling its production
Opec was formed in 1960 in order to?
OPEC was formed in 1960 to co-ordinate and unify petroleum policies among Member Countries, in an effort to secure fair and stable prices for petroleum producers.
Why did OPEC not raise prices during the 1980s and what is OPEC attempting to accomplish now?
To help stablize oil prices.
What is the reason for the existence of OPEC?
OPEC's objective is to co-ordinate and unify petroleum policies among Member Countries, in order to secure fair and stable prices for petroleum producers; an efficient, economic and regular supply of petroleum to consuming nations; and a fair return on capital to those investing in the industry.
Is the OPEC fair with pricing?
OPEC charges what the market will allow. It regulates the price by regulating the supply.
Who decides gas prices at the pump?
OPEC.
Is OPEC to blame for high gas prices If so why?
OPEC wants gas prices to be higher so that its member nations can profit more from oil.
What group formed to regulate oil prices?
OPEC
What group was formed to regulate oil prices?
OPEC
Why was OPEC created?
To regulate petroleum prices around the world.
What groups controls the prices of Arab oil?
OPECopec
