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A brief presentation of OPEC, including 1. History of organization 2. OPEC today (members and quotas) 3. Problems of OPEC
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OPECThe Organization of
the Petroleum Exporting Countries
Plan History and some
figures
OPEC todayProblems
of OPECProblems of
OPEC
OPEC todayProblems
of OPEC
Problems of OPEC
History and some
figures
1
60s
The establishment
70s
Oil crisis80s
Oil glut90s
War response
7 giant oil “sisters” were in control of oil production
60s
70sOil crisis of 1973In response to war in
Israel Arab countries
proclaimed oil embargo
45%*
*share in world oil production**price per barrel
10$**
80s1980s oil glutSurplus in crude oil
caused by falling demand
after energy crisis
35%*
*share in world oil production**price per barrel
25$**
90sThe days of warIraq began campaign
against Kuwait, that led
to growth in oil prices
40%*
*share in world oil production**price per barrel
25$**
Problems of OPEC
Problems of OPEC
History and some
figures
Current members
Quotes system
OPEC today
2
Saudi Arabia
2nd*
1960**
Iran
4th
1960
* Position in world oil production** The year of jointment
UAE
8th
1967
Kuwait
10th
1960
Venezuela
11th
1960
12th
1960
Iraq
The rest 6 countries are: Nigeria, Qatar, Libya, Ecuador, Angola, and Algeria
Current members
29,591 bar/day
SA30%
Iran13%
Kuwait, UAE17%
Nigeria8,1%Rest 6
38,9%
Quotas system
Problems of OPEC
History and some
figures
OPEC today
3
History and some
figures
OPEC today
Problems of OPEC
3
Different development
levels within OPEC
High social tension in
some countries