Sunday, March 30, 2014

Organization of Petroleum Exporting Countries (OPEC)

  • OPEC has the power to set oil prices, but this power has receded in recent history
  • Coordinates oil production in its member states
  • Member States:
    • Algeria
    • Iran (original)
    • Angola
    • Kuwait (original)
    • Libya
    • Nigeria
    • Ecuador
    • Qatar
    • Saudi Arabia (original)
    • United Arab Emirates
    • Venezuela (original)
    • Iraq (original)
  • 1960: Founded at the Baghdad Conference
  • 1965: Establish headquarters at Vienna, Austria
  • 1973: OPEC declared an oil embargo on the United States and Western Europe because of their support of Israel in the Yom Kippur War
    • Lead to a global economic recession

Posted by at
Labels: ,

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)

Popular Posts

  • The Geography of Libertarianism
    Recently, Libertarianism has been gaining support as a third party throughout America. In the 2012 election, the Libertarian party nominated...
  • Arches National Park
    Photo by Simon Christen Arches National Park is located on the Colorado River in southern Utah Established in 1971 Covers 76,359 acre...
  • Redwood National Park
    Photo: National Park Service Located on the northern coast of California Established on October 2, 1968 Covers 131,983 acres Contain...
  • Top 10 Jobs in Geography
    There aren't an incredible amount of jobs out there with the title "Geographer," but many universities offer degrees in geo...
  • New Jersey: The Garden State
    Capital: Trenton Major Cities: Camden Atlantic City Jersey City Newark Patterson Elizabeth Major Geographical Features Kittati...