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  • By: Varesh Mundel 4110036036

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    OPEC was formed in 1960 by five countries to coordinate and unify petroleum policies among member countries to ensure stable and fair oil prices. OPEC controls over 80% of the world's oil reserves and aims to regulate prices through production quotas while also funding development projects in poorer nations. The organization is headed by a Secretary General and involves departments that research market conditions and support member states.

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    OPEC was formed in 1960 by five countries to coordinate and unify petroleum policies among member countries to ensure stable and fair oil prices. OPEC controls over 80% of the world's oil reserves and aims to regulate prices through production quotas while also funding development projects in poorer nations. The organization is headed by a Secretary General and involves departments that research market conditions and support member states.

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    102 views4 pages

    By: Varesh Mundel 4110036036

    Uploaded by

    Varesh Mundel
    OPEC was formed in 1960 by five countries to coordinate and unify petroleum policies among member countries to ensure stable and fair oil prices. OPEC controls over 80% of the world's oil reserves and aims to regulate prices through production quotas while also funding development projects in poorer nations. The organization is headed by a Secretary General and involves departments that research market conditions and support member states.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
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    OPEC

    By: Varesh Mundel


    4110036036
    OPEC
     Formed on 14th Sept. 1960 by five countries.
     OPEC's objective is to “co-ordinate and
    unify petroleum policies among Member
    Countries, in order to secure fair and
    stable prices for petroleum producers”.
     OPEC countries accounts more than 80% of
    the total Oil reserve of the world.
     The secretary general of the OPEC is Abdalla
    Salem El-Badri, secretariat involves 2
    directors, research and support division and
    six head of departments
    OPEC
     By OFID, OPEC raises funds for the
    development of under developed nations.
     The OPEC had been there in various
    controversies of regulating oil prices on their
    own.
     Since last 10 years OPEC has started taking
    interest in development of foreign countries.

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