What are the objectives of OPEC?

Answer 1

To Control the price of Oil

The goal of OPEC is to regulate gas prices.

Answer 2

The main objectives of OPEC (Organization of the Petroleum Exporting Countries) are to coordinate and unify the petroleum policies of its member countries, ensure the stabilization of oil markets to secure an efficient, economic, and regular supply of petroleum to consumers, and provide fair returns to producers while promoting investments in the oil industry. Additionally, OPEC aims to promote cooperation and collaboration among oil-producing countries to achieve common goals related to the petroleum sector.

Answer 3

To control the price of oil for the benefit of the producers. This is done by setting pricing and production targets to meet demand, thus avoiding either a shortage or surplus in world markets.

OPEC Mission Statement

"OPEC's mission is to coordinate and unify the petroleum policies of Member Countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers and a fair return on capital to those investing in the petroleum industry."

Answer 4

A few major goals of OPEC are to keep oil prices steady. This allows for better planning by OPED members. Additionally:

To control the production of oil; and

To increase profits from selling oil.

There can also be political ramifications enjoyed by OPEC members. For example, reducing the amount of oil allowed to be purchased by any given nation, OPEC has a window of opportunity to control the policies of its customers.

Answer 5

To regulate the sale and pricing of petroleum products.