OPEC The Organization of the Petroleum Exporting Countries
OPEC
May 26, 2015
A brief presentation of OPEC, including
1. History of organization
2. OPEC today (members and quotas)
3. Problems of OPEC
1. History of organization
2. OPEC today (members and quotas)
3. Problems of OPEC
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Transcript
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
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