OPEC is a permanent intergovernmental organization consisting of 12 oil producing countries that aims to coordinate and unify petroleum policies, ensure stable oil prices and an efficient petroleum market. It was formed in 1960 by 5 oil producing countries and has since expanded. OPEC determines production levels for member countries and works to ensure members comply to influence global oil prices and production levels from other countries.

1. OPEC
Name :- Parwinder Singh
Roll No:- 2234188
Submitted to :- Ms.Parul sood
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2. What is OPEC
It is a permanent intergovernmental
organization, currently consisting of
12 oil producing and exporting
countries, spread across three
continents America, Asia and Africa
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3. Objectives
1. To coordinate and unify the petroleum
2. To provide an effecient economic
3. Ensuring the stabilization
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4. OPEC Statute & Membership-
•"Any country with a substantial net export of
crude petroleum, which has fundamentally
similar interests to those of Member Countries,
may become Full Member of the Organization, if
accepted by a majority of three-fourths of Full
Members, including the concurring votes of all
Founder Members"
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5. Functions
1. Cartel enforcement problem
2. The methods available to engage in such
cheating
3. Rivalry between two groups within OPEC
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6. Advantages
1. First, it promotes cooperation among member
nations
2. helping them alleviate some degree of political
hostilities
3. the organization's main goal is to stabilize oil
production and prices, it is able to exert some influence
over production from other nations.
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7. Conclusion
1.Raise oil price
2. 2.monopolistic behaviour
3.3. Raise price and production
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8. Thank
you
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