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OPEC decides to influence, by either increasing the exports or decreasing them.
The price of foreign oil was raised by OPEC.
where is the head quarter of opec
egypt (A+)
What are the organs of opec
OPEC decides to influence, by either increasing the exports or decreasing them.
Indonesia
OPEC forms an oligopoly in the oil market by coordinating policies of the oil-producing countries in order to ensure a steady income.
OPEC, or the Organization of the Petroleum Exporting Countries, is an intergovernmental agency that coordinates policies to ensure the fair and regular supply of petroleum to other countries in the world. Countries outside of OPEC may seek to maneuver politically to gain favor with OPEC.
OPEC was founded in 1960 to unify and coordinate the policies of oil-producing countries to ensure stable oil prices and a steady income for member countries. The founding members, Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela, sought to reduce the influence of foreign oil companies and regain control over their resources. OPEC's mission was also to provide a forum for member countries to discuss and address common oil-related issues.
The price of foreign oil was raised by OPEC.
The price of foreign oil was raised by OPEC.
opec
oil embargo by the Organization of Petroleum Exporting Countries (OPEC)
OPEC at present operates more or less as weak cartel. Saudi Arabia retains their critical role as being a swing player boosting production as they see fit, even if it means being at odds with OPEC productions quotas. The dramatic increases of North American oil and natural gas production has severely curtailed OPECs position economically and politically. The political questions of Saudi allied Arab States and Iran are also divisive against the notion of OPEC being currently supranational. That being said, their embargo in 1973 in retaliation for the Yom Kippur War had the hallmarks and foundation of supranational foreign policy making and governance.
where is the head quarter of opec
OPEC's population is 372,368,429.