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SS7G7; SS7G8 WHAT IS OPEC?.  O __________________ of  P ___________________  E ___________________  C ___________________ WHAT IS OPEC?

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Presentation on theme: "SS7G7; SS7G8 WHAT IS OPEC?.  O __________________ of  P ___________________  E ___________________  C ___________________ WHAT IS OPEC?"— Presentation transcript:

1 SS7G7; SS7G8 WHAT IS OPEC?

2  O __________________ of  P ___________________  E ___________________  C ___________________ WHAT IS OPEC?

3  O rganization________ of  P ___________________  E ___________________  C ___________________ WHAT IS OPEC?

4  O rganization________ of  P etroleum___________  E ___________________  C ___________________ WHAT IS OPEC?

5  O rganization________ of  P etroleum___________  E xporting___________  C ___________________ WHAT IS OPEC?

6  O rganization________ of  P etroleum___________  E xporting___________  C ountries___________ WHAT IS OPEC?

7  OPEC’s Objective: OPEC.ORG

8  OPEC’s Objective: Unify the petroleum policies if its Members and make sure the oil market is stable for producers, suppliers, consumers, and investors. OPEC.ORG

9  List all of the members of OPEC that are located in SW Asia (Middle East)  Iran OPEC.ORG

10  List all of the members of OPEC that are located in SW Asia (Middle East)  Iran  Iraq OPEC.ORG

11  List all of the members of OPEC that are located in SW Asia (Middle East)  Iran  Iraq  Kuwait OPEC.ORG

12  List all of the members of OPEC that are located in SW Asia (Middle East)  Iran  Iraq  Kuwait  Qatar OPEC.ORG

13  List all of the members of OPEC that are located in SW Asia (Middle East)  Iran  Iraq  Kuwait  Qatar  Saudi Arabia OPEC.ORG

14  List all of the members of OPEC that are located in SW Asia (Middle East)  Iran  Iraq  Kuwait  Qatar  Saudi Arabia  United Arab Emirates OPEC.ORG

15  What does this objective really mean? OPEC.ORG

16  What does this objective really mean? They control how much oil is produced and how much it costs. OPEC.ORG

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18  How does OPEC “stabilize” the market price of oil? OPEC.ORG

19  How does OPEC “stabilize” the market price of oil? They increase or decrease production as necessary, which in turn affects prices. OPEC.ORG

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21  Definition: setting prices at a level that producers and distributors can agree on. PRICE FIXING

22 *1 gal = 3.7 liters PRICE FIXING


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