BulletBackgroundPaper - BULLET BACKGROUND PAPER ON...

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BULLET BACKGROUND PAPER ON ORGANIZATION OF PETROLEUM EXPORTING COUNTRIES (OPEC) PURPOSE This briefing informs about OPEC, particularly in the Middle East, and the effect OPEC has on world economy and politics. DISCUSSION - OPEC includes 2 South American countries, 4 African countries, and 6 Middle Eastern countries. - OPEC in the Middle East consists of Kuwait, Iran, Iraq, Saudi Arabia, Qatar, and the United Arab Emirates. - OPEC's works to coordinate and unify petroleum policies among Member Countries, in order to secure fair and stable prices and supply for petroleum producers -- OPEC works toward fair capital return, reasonable prices, and adequate supply of petroleum -- The idea of OPEC originated in 1949, but it was not created until 1960. --- OPEC formed in response to President Eisenhower’s pressure to push regulations on Venezuela’s oil production and manufacturing. --- OPEC started with five countries, but quickly grew to 10. -- In the 1970s, OPEC members took control over all oil distribution within participating
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This note was uploaded on 11/05/2009 for the course HSTAA 401 taught by Professor Conway during the Spring '09 term at University of Washington.

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BulletBackgroundPaper - BULLET BACKGROUND PAPER ON...

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