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SS7G7; SS7G8WHAT IS OPEC?
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O__________________ of
P___________________
E___________________
C___________________
WHAT IS OPEC?
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Organization________ of
P___________________
E___________________
C___________________
WHAT IS OPEC?
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Organization________ of
Petroleum___________
E___________________
C___________________
WHAT IS OPEC?
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Organization________ of
Petroleum___________
Exporting___________
C___________________
WHAT IS OPEC?
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Organization________ of
Petroleum___________
Exporting___________
Countries___________
WHAT IS OPEC?
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OPEC’s Objective:
OPEC.ORG
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OPEC’s Objective:
Unify the petroleum policies if its Members and make sure the oil market is stable for producers, suppliers, consumers, and investors.
OPEC.ORG
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List all of the members of OPEC that are located in SW Asia (Middle East)
Iran
OPEC.ORG
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List all of the members of OPEC that are located in SW Asia (Middle East)
Iran Iraq
OPEC.ORG
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List all of the members of OPEC that are located in SW Asia (Middle East)
Iran IraqKuwait
OPEC.ORG
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List all of the members of OPEC that are located in SW Asia (Middle East)
Iran IraqKuwaitQatar
OPEC.ORG
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List all of the members of OPEC that are located in SW Asia (Middle East)
Iran IraqKuwaitQatarSaudi Arabia
OPEC.ORG
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List all of the members of OPEC that are located in SW Asia (Middle East)
Iran IraqKuwaitQatarSaudi ArabiaUnited Arab Emirates
OPEC.ORG
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What does this objective really mean?
OPEC.ORG
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What does this objective really mean?
They control how much oil is produced and how much it costs.
OPEC.ORG
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OPEC.ORG
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How does OPEC “stabilize” the market price of oil?
OPEC.ORG
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How does OPEC “stabilize” the market price of oil?
They increase or decrease production as necessary, which in turn aff ects prices.
OPEC.ORG
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OPEC.ORG
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Definition: setting prices at a level that producers and distributors can agree on.
PRICE FIXING
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*1 gal = 3.7 liters
PRICE FIXING