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Why would a country join OPEC?
because its a rich country
What happened on the 32nd OPEC Conference?
The formation of the Organization of Petroleum Exporting Countries (OPEC) occurred in September of 1960 at the Baghdad Conference, It was created by five countries which included Kuwait, Venezuela, Iran, Iraq, and Saudi Arabia. As of 2014, there are 12 member countries. OPEC's goal was to have more control over oil prices and their petroleum resources.
How would OPEC nation feel about the rising cost of petroleum?
OPEC would never trade with the country that rose the price of petroleum.
What single country depends most on OPEC oil?
Since the 1970's 80% of the oil in the US comes from OPEC. Before 1970 the USnproduced 80% and imported 20%.
Which best describes the majority of country of countries in OPEC?
Their economies rely heavily on exports.
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 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 Spain a OPEC country?
No
Who are the main OPEC exporters?
Saudi Arabia has been the dominant member of OPEC and maintained the highest share of OPEC oil export revenues. Other top OPEC oil exporters included Iran, Venezuela, Iraq, and Nigeria.
What body of water is closest to OPEC?
OPEC is a worldwide consortium of oil exporting countries - there isn't one country or region which defines OPEC.
Which country imports the most oil from OPEC?
According to AESC the US is the biggest OPEC customer.
Why would a country join OPEC?
because its a rich country
Which country tried to come out from OPEC?
Indonesia
Which country laid the foundation of OPEC?
Venezuela
Which country is not related to OPEC group?
UAE
What spanish speaking country is a member of the OPEC?
Venezuela. Ecuador also used to be a member of OPEC, but withdrew.
Is Germany a member of OPEC?
No. OPEC Members are all oil producing countries. Germany is not an oil producing country.
