Organization of petroleum exporting countries

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Organization of petroleum exporting countries

  1. 1. Organization of Petroleum Exporting Countries =OPEC
  2. 2. <ul><li>1960, 5 oil-rich countries formed an organization called the Organization of Petroleum Exporting Countries, or OPEC. The members are Iran, Iraq, Saudi Arabia, Kuwait, and Venezuela. </li></ul>
  3. 3. Purpose <ul><li>To coordinate and unify petroleum prices in order to promote stability in the world’s oil market and ensure a regular supply of petroleum to other countries. Helps to control gas prices, sets the prices of oil, amount of oil produced in member nations. </li></ul>

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