OPEC celebrated its 50th anniversary in September 2010. Formed in 1960 by Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela, OPEC was established to represent the interests of oil-producing countries. OPEC now controls 40% of global oil output and 80% of the world's proven oil reserves. One of its main goals is to achieve stable oil prices, though this has been difficult to achieve given fluctuations like oil reaching $147 per barrel in July 2008 before collapsing to $36 by December 2008.

1. 6363 Woodway Dr. Suite 870
Houston, TX 77057
Phone: 713-244-3030
Fax: 713-513-5669
Securities are offered through
RAYMOND JAMES
FINANCIAL SERVICES, INC.
Member FINRA / SIPC
“OPEC Turns 50”
Happy Golden Anniversary, OPEC. The organization of the Petroleum Exporting Countries
(OPEC) just celebrated its 50th anniversary of its establishment on Friday. The OPEC accounts
for 40% of global oil output and controls 80% of the world’s proven oil reserves. Until the
formation of OPEC on September 10, 1960, the oil market was dominated by a seven company
cartel comprising of British Petroleum, Chevron, Exxon, Gulf, Mobil, Royal Dutch/Shell and
Texaco, which was often referred to as the Seven Sisters.
These Seven Sister companies produced oil, purchased it from Third World countries, maintained
refineries and sold oil and petroleum products. Their monopolist status enabled them to
pressure rivals from developing countries and force them to reduce selling prices on a regular
basis. This domination ultimately led to the oil states realizing they needed to join together to
represent their own best interests, and from that OPEC was born. In September 1960,
representatives from Iran, Iraq, Kuwait, Saudi Arabia and Venezuela met in Baghdad and signed
an agreement to establish the Organization of the Petroleum Exporting Countries (OPEC).
(Source: http://en.rian.ru/analysis/20100910/160544928.html)
When OPEC was formed in 1960, Crude Oil was trading at $3 per barrel; today it is trading
around $76 a barrel. And what’s interesting, is that one of its main goals as an organization has
been to achieve stable oil prices “with a view to eliminating harmful and unnecessary
fluctuations” (Source: www.opec.org). This goal of stability has been greatly tested over the
years, and felt by everyone from speculators in the futures markets to consumers at the pump.
Case in point – remember that Crude Oil topped out at $147 in July 2008 and then promptly
collapsed to $36 a barrel by December 2008.
Securities offered through Raymond James Financial Services, Inc., Member FINRA/SIPC
Raymond James Financial Services does not accept orders and/or instructions regarding your account by e-mail, voice
mail, fax or any alternate method. Transactional details do not supersede normal trade confirmations or statements. E-mail sent
through the Internet is not secure or confidential. Raymond James Financial Services reserves the right to monitor all e-mail.
Any information provided in this e-mail has been prepared from sources believed to be reliable, but is not guaranteed by Raymond
James Financial Services and is not a complete summary or statement of all available data necessary for making an investment

2. decision. Any information provided is for informational purposes only and does not constitute a recommendation. Raymond James
Financial Services and its employees may own options, rights or warrants to purchase any of the securities mentioned in e-mail.
This e-mail is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material.
Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or
entities other than the intended recipient is prohibited. If you received this message in error, please contact the sender immediately
and delete the material from your computer.
The S& P is an unmanaged index of 500 widely held stocks. Inclusion of this index is for illustrative purposes only You cannot invest
directly in any index and past performance doesn’t guarantee future results.
Any opinions are those of Jeff Green and not necessarily those of RJFS or Raymond James. Expressions of opinion are as of this date
and are subject to change without notice. Any information is not a complete summary or statement of all available data necessary
for making investment decision.
If you would like to be removed from this e-Mail list, PLEASE click the Reply button, type “remove” or “unsubscribe” in the subject
line and include your name in the message, then click Send.
If you have any questions or concerns, please email Jeff at Jeff@greenfinancialgrp.com or call 713-244-3030.