OPEC

Adileni Hernandez & Laura Ordonez

OPEC

  1. The OPEC organization was found in the year 1960. It was established to take care of oil prices in the market and deal with exporting policies. It is connected with the countries of Algeria, Angola, Indonesia, Iraq, Iran, Kuwait, Libya, NIgeria ,Qatar, Saudia Arabia, United States and even Venezuela. At the end Ecuador and Gabon became members of this organization also.
  2. In this organization it has been a big influence on the market and it has been criticized by civilians because the countries involved happen to be the ones who have most of all the oil reserves with them. Most of them have the natural gas reserves and this makes others mad. This organization has been helpful in many ways, but it has caused headaches to others who view this organization as a cartel because of the way t functions.
OPEC 50 years later
A Quick History of War, OPEC, and Gas Prices