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Organization of Petroleum Exporting Countries is an association of approx 12 countries, the principal oil producing countries, whose aim is to look after the interests of the member countries. There is not a fixed number of countries, and several have come and gone according to local circumstance. Notably Indonesia.
They set the price of crude oil on the world markets, and thus are of immense importance in world commerce.
Energy is a prime determinant of economic prosperity, and the most prosperous countries have a large energy demand. Not necessarily from Oil.
OPEC is mainly a benign organization, but when they have felt their interests have been threatened, they have not hesitated to step in with restricting the supply of oil.
What else can I help you with?
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 OPEC what countries are a part of OPEC?
egypt (A+)
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.
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.
What type of government controls the OPEC?
OPEC controls most of the worlds oil source.
Why Sultanate of Oman is not a member of OPEC?
Opec wants Oman to be a member, but Oman would not accept the terms and conditions of OPEC
