OPEC, otherwise known as Organization of the Petroleum Exporting Countries, As of 2016 contains 14 members which account 44 percent of global oil production and 73 percent of the world's "proven" oil reserves, giving them a major influence on global oil prices. OPEC’s financial strength over the international community is clearly shown through the oil spikes during the 1970s. OPEC’s restrictions on oil production led to a dramatic rise in oil prices and OPEC's revenue and wealth, with long-lasting and far-reaching consequences for the global economy. I hope that these basic economic policies could be used for my benefit from this
OPEC, otherwise known as Organization of the Petroleum Exporting Countries, As of 2016 contains 14 members which account 44 percent of global oil production and 73 percent of the world's "proven" oil reserves, giving them a major influence on global oil prices. OPEC’s financial strength over the international community is clearly shown through the oil spikes during the 1970s. OPEC’s restrictions on oil production led to a dramatic rise in oil prices and OPEC's revenue and wealth, with long-lasting and far-reaching consequences for the global economy. I hope that these basic economic policies could be used for my benefit from this