opec organization of petroleum exporting countries- information for standard ss7e6c

OPEC Organization of Petroleum Exporting Countries- Information for Standard SS7E6c

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OPECOrganization of Petroleum

Exporting Countries- Information for Standard SS7E6c

What is the purpose of OPEC?

OPEC is an international organization that has thirteen members.

Its purpose is to help members develop policies on oil production and trade that will benefit each other.

Page 3: OPEC Organization of Petroleum Exporting Countries- Information for Standard SS7E6c

What is the role of OPEC in the global oil market?

The role of OPEC is to raise and lower the price of oil according to market demand, availability, and other factors.

Page 4: OPEC Organization of Petroleum Exporting Countries- Information for Standard SS7E6c

Are all members of OPEC Middle Eastern countries?

No, not all members of OPEC are Middle Eastern Countries

Page 5: OPEC Organization of Petroleum Exporting Countries- Information for Standard SS7E6c

Are all oil producing countries members of OPEC?

No, not all oil producing countries are members of OPEC.

Page 6: OPEC Organization of Petroleum Exporting Countries- Information for Standard SS7E6c

Who are the members of OPEC?

The five founding countries are Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela.

The other eight member countries are Indonesia, Libya, United Arab Emirates, Algeria, Nigeria, Ecuador, and Angola.

Page 7: OPEC Organization of Petroleum Exporting Countries- Information for Standard SS7E6c

What do you think?

Why would oil exporting nations want to belong to OPEC?

Why wouldn’t oil exporting nations want to belong to OPEC?

What are the benefits of being a member of OPEC?

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