What is the organization of balanced oil countries?
The organization of oil -exporting countries (OPEC) is an international cartel that controls a large part of the world's oil trade. OPEC includes 12 countries; Kuwait, Algeria, Ecuador, Iran, Angola, Iraq, Libya, Saudi Arabia, Nigeria, Qatar, Venezuela and the United Arab Emirates. The organization was sometimes subject to controversy, because its control over the oil flow is so great. This influence has decreased for many reasons in recent years.
was founded in 1960, the organization of oil export countries has quickly become one of the most influential organizations in the world. While several OPEC founders discussed the possibility of creating a team, only in 1960 it was necessary. The law approved by the then US President Dwight Eisenhower has established limitation of oil imports from non-verbal US resources. Because the United States was one of the largest oil importers, it created a sharp decline in oil profits.
The original five members of an organization of oil exporting countries began to receive new members to consolidateIli possession of oil trade. Over the next 15 years, OPEC accepted eight other countries and held almost all known world oil reserves. Some countries, like the United Kingdom, were deliberately omitted from the organization because of their ties with colonial activities.
The aim of the organization of oil -exporting countries is to control the production and availability of oil. The Group does this strictly control the amount of oil drawn from the oil fields of Member States and determine the price restrictions and availability. During the height of their strength, the group maintained a slow increase in costs, but the total price stable. Occasionally, for example, during the oil embargo or the flight of excessive production in 1973, at the beginning of the 80s, oil prices were fluctuating, but soon returns to its previous levels.
The level of control that the organization of exported oil countries exceeds oil prices is many non -non -non -unpleasant non -non -unpleasant ones. OPEC has been able to influence prices for several decadesin every industrialized country. Simply by improving gasoline, they could increase the costly cost of transporting more expensive products. This had the consequences of everything from the level of inflation to the cost of housing.
Although OPEC still controls a huge amount of world oil reserves, their overall influence is less than once. Due to the increased demand, most Member States produce oil almost as fast as their infrastructure allows, which cancels the usefulness of production quotas. In addition, several new oil deposits were placed in non -German countries. Since oil produced by these sources is not subject to OPEC regulations, international oil sales are not affected by their price.