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Opec Word
Opec Word
SUBJECT: IB
TOPIC: ORGANIZATION OF OIL AND
PETROLEUM EXPORTING COUNTRIES
PRESENTED BY: Amit Parmar( BF/14036)
&
Mehul jadhav ( BF/14017)
WHAT IS OPEC ?
It is an organization of oil-producing countries
founded in 1960.
OPEC controls the price of petroleum all over the
world.
Ensures stability of oil markets to secure,
economic and regular
supply of petroleum.
Ensures steady income to the producers and a fair
return on capital.
FOUNDER MEMBERS OF
OPEC
Iran
Iraq
Kuwait
Saudi Arabia
Venezuela
Later on the founding members of OPEC were
joined by nine other members countries.
THANK YOU