About this document
OPEC Objectives and Functions Explained by gautamcool2002 is a document available to read on EtoBox.
OPEC is an organization consisting of 13 oil producing countries that aims to coordinate oil policies in order to maintain stable oil prices and supplies. It sets production quotas to balance supply and demand in the global oil market. While OPEC controls around 40% of global oil production, non-OPEC producers also impact prices and it does not fully control the market. OPEC seeks security of both oil supply and demand by ensuring stable incomes for members and investment in future production.
- Author
- gautamcool2002
- Language
- EN