The Organization of the Petroleum Exporting Countries (OPEC) was formed in 1960 by five oil producing countries and is an intergovernmental organization comprised of 12 oil exporting developing nations. OPEC aims to coordinate and unify its members' petroleum policies, ensure stable oil prices, and ensure a fair return on investment for the petroleum industry. The price of oil is determined by factors like supply, demand, production costs, the value of the U.S. dollar, and speculation in oil markets.

1. Gadim Valiyev

2. What is OPEC ?
• The Organization of the Petroleum Exporting Countries is a permanent intergovernmental
organization of 12 oil exporting developing nation
• OPEC Was formed at the meeting held on September 14,1960 in Bagdad Iraq by 5 countries
(Iran,Iraq,Kuwait,Saudi Arabia,and Venezuela
• Headquarters : Vienna Austria
• President : Bijan Namdar
• Official language: English
• 12 member countries

3. Aim of OPEC
• OPEC’S Mission is to coordinate unify the Petroleum policy of Members
Countries
• Ensure the Stabilization of Oil Price
• Regular Supply to Petroleum to Consumer
• Fair Return on Capital to those investing in the Petroleum industry

4. Oil Price
• U.S dollar is the unit of Oil sale
• The Price of Barrel of Oil is the result of a number competing factors
• How much is oil available ?
• How munch oil is demanded by consumers?
• How much is it cost to get oil from ground to consumers
• The price of Dollars and the potential that oil speculators see for the
price to rise and fall

5. Oil Price in 2014

6. Gasoline or Petrol
• Petrol is a transparent, petroleum-derived liquid that is used
primarily as a fuel in internal combustion engines
• It consists mostly of organic compounds obtained by the fractional
distillation of petroleum

7. 1litr of Gasoline – 0.01 $ in Venezuela
2.23$ in Norway
2014 November 24

9. What is Petroleum products and Petroleum
• Petroleum products are produced from the processing of crude oil at
petroleum refineries and the extraction of liquid hydrocarbons at
natural gas processing plants.
. Petroleum is the broad category that includes both crude oil and
petroleum products. The terms "oil" and "petroleum" are sometimes
used interchangeably.

17. References
• http://www.opec.org/opec_web/en/
• http://www.bbc.com/news/business/market_data/commodities/143
908/default.stm
• http://www.ceoe.udel.edu/oilspill/crudeoil.html
• http://www.eia.gov/tools/faqs/faq.cfm?id=40&t=6
• http://www.businessinsider.com/us-dollar-oil-prices-correlation-
2014-10
• http://www.globalpetrolprices.com/gasoline_prices/