1. OPEC Organization of Petroleum Exporting Countries
Amruth

2. Members of OPEC Algeria Angola Ecuador Iran Iraq Kuwait Libya Nigeria
Qatar
Saudi Arabia
UAE
Venezuela

3. The goal of OPEC
OPEC’s mission is to unify their member’s petroleum policies.This includes price per barrel, and the amount produced. They want to supply an efficient, economic, regular supply of oil to their countries.

5. When was OPEC established
September 1960 in Baghdad, Iraq
Founding members: Iran,Iraq,Kuwait, Saudi Arabia and Venezuela
Initially headquartered in Geneva, Switzerland

6. The reason for establishment
Objective: plan & unify petroleum rules and policies
Generate economic and controlled supply of petroleum to buying nations
Generate needed capital for the countries investing in oil

7. Importance Helps keep gas prices unified
Controls majority of the gas sources and their economics
Affects all economies in the world
Ex: Middle East conflict caused oil prices to increase, but OPEC agreements caused it to come to economic prices again

8. Members are what?