Opec 1
What are the two colours on the logo?
White and blue
What is opec's full name?
Organisation of petroleum exporting countries
Where is the headquarter located?
Vienne, Austria
What are the countries that are now in Opec? (name two)
these countries were later joined by Qatar (1961), Indonesia (1962), Libya (1962), the United Arab Emirates (1967), Algeria (1969), Nigeria (1971), Ecuador (1973), Gabon (1975), Angola (2007), Equatorial Guinea (2017) and Congo (2018”).
What year was it established?
14 September 1960
What were the original countries that originated the Opec organization. (Name two)
Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. (60+ years ago)
Why was this organisation formed?
They started this organization to control prices of oil, since they produce it they wanted to determine how much is sold and produced around the world
What is there goal?
They want to dominated in the oil industry
What criticism did Opec face because of there influence?
When the organization imposed oil embargoes in 1973, it caused global fuel shortages and excessive inflation.
What criticisms does OPEC receive because of what they do?
opel operates to benefit its own members
because if u can keep prices at a certain level u can make more money yourself
there is a drop of demand in oil right now
people are starting to use renewables - like wind and solar
If people stop their usage of oil and gas, OPEC will have no reason to continue because their power will be useless.
What problem's did OPEC cause for America ?
A depression of the American economy.
a subsequent conflict between the world's superpowers.
dread that the US would lose its position as the world's top oil producer.
The state of Israel is destroyed.