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Opec Provides An Example Of. There can also be political ramifications enjoyed by OPEC members. I'm reviewing for a final and I'm stuck on this question. your help would kindly be appreciated.

The Organisation of Petroleum Exporting Countries (OPEC) is a permanent inter - governmental organisation composed of member states whose economies mostly rely on revenues from oil export. OPEC was originally created by a group of producing countries to a) manage the price of crude oil or b) stabilize the crude oil market by increasing or decreasing their production of crude oil. There can also be political ramifications enjoyed by OPEC members.

OPEC Statute & Membership Any country with a substantial net export of crude petroleum,  Which has fundamentally similar interests to those of Member.

Beyond these countries, the exempted OPEC members of Iran and Venezuela continue to inadvertently help the organization along its way in curbing supply.

The OPEC's twelve members work together to coordinate the overall oil price in the world market. Definition of OPEC: Organization of Petroleum Exporting Countries. For example, reducing the amount of oil allowed to be purchased by any given nation, OPEC has a window of opportunity to control the policies of its customers.

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