Melissa Cruz & Gabriella Zepeda
Information About OPEC
The Organization of the Petroleum Exporting Countries was a oil chain commission to arrange the system of the oil-producing countries. The organization was found in 1960. The purpose was to secure supply of oil to the consumers. OPEC was created at the time when the oil market was separate from centrally planned economies and was controlled by many companies. In the 1970s, OPEC began to gain power and raise oil prices during Yom Kippur War. The OPEC nations, which depended in revenue from oil sales, experienced severe economic hardship from the lower demand for oil and consequently cut production in order to boost price of oil. Member countries of the OPEC were Algeria, Angola, Ecuador, Iran, Kuwait, , Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, and Venezuela.
Cartoon describing how Saudi Arabia had the most amount of crude oil from OPEC
Charts that show the percentage of the world is OPEC and NON-OPEC. Also, how OPEC distributed barrels of crude oil to different places.
Logo for OPEC
An oil is any neutral, nonpolar chemical substance.
Is an oil cartel whose mission is to coordinate the policies of the oil-producing countries