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What is the difference between BP to OPEC?
BP is simply an Oil producing firm whilst OPEC is a trade bloc/ organisation which regulates the production of oil within 12 countries
What has OPEC done to limit the effect of nonmember production on its pricing decision?
what has OPEC done to limit the effect of non member production on its pricing decisions?
Is Sudan an OPEC member?
No. Yemen is not a member due to its low oil production and proven reserves.
Which is a main goal of opec?
To control the production of oil— Apex :)
What organization's goal is to control the worlds production and price of oil?
OPEC is the organization that controls the world's production and price of oil. The members of OPEC come from twelve oil producing states.
What happened to the price of oil when opec decided to limit production?
It increased.
When the price of oil drops this usually that OPEC has?
increased production.increased production.
What percent of the worlds oil production is produced by OPEC?
43 percent
What countries have an economy based largely on the production and sale of energy?
The OPEC countries, and other non-OPEC oil exporters (such as Russia).
How fair is OPEC in controlling these 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.
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.
When the price of oil drops this usually means that OPEC has done what?
Increased Oil Production.
