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OPEC can be seen as beneficial for stabilizing oil prices and ensuring a steady supply of crude oil, which can promote economic stability in member countries. However, it can also lead to market manipulation and higher prices for consumers, as the organization controls a significant portion of the world's oil supply. Ultimately, whether OPEC is considered a good thing depends on one's perspective regarding economic stability versus market competition and consumer interests.
What else can I help you with?
Who are the 3 former members of opec?
Saudia Arabia opec OPEC oil reserves OPEC oil crisis
Where is the headquater of opec?
where is the head quarter of opec
What is OPEC what countries are a part of OPEC?
egypt (A+)
What are the organs of OPEC company?
What are the organs of opec
Why was the US vulnerable to OPEC?
The US is vulnerable to OPEC because of the oil import. There is about 40% oil in OPEC countries.
Is southwest Asia part of OPEC?
Not all Southwest Asian countries are part of OPEC but over half of OPEC's membership comes from Southwest Asia and a good number of Southwest Asian countries are OPEC members.
Is OPEC a noun?
OPEC is an acronym. An acronym is an abbreviated form of a term of two or more words. The acronym OPEC is a shortened form of Organization of Petroleum Exporting Countries, which represnts (currently 14) oil producing countries. The acronym OPEC functions in a sentence as a noun, a word for a thing.
Who owns OPEC?
opec
Who are the 3 former members of opec?
Saudia Arabia opec OPEC oil reserves OPEC oil crisis
What are the organs of OPEC company?
What are the organs of opec
Where is the headquater of opec?
where is the head quarter of opec
What is the population of OPEC?
OPEC's population is 372,368,429.
What is OPEC what countries are a part of OPEC?
egypt (A+)
Is Egypt located in OPEC?
OPEC is an organisation, not a place, so no country is located in it. Egypt is not a member of OPEC.
Is Laos is present OPEC?
Is Laos is present OPEC?
How do you use OPEC in a sentence?
OPEC is so silly
Why was the US vulnerable to OPEC?
The US is vulnerable to OPEC because of the oil import. There is about 40% oil in OPEC countries.
