OPECThe Organization of

the Petroleum Exporting Countries

Plan History and some

figures

OPEC todayProblems

of OPECProblems of

OPEC

OPEC todayProblems

of OPEC

Problems of OPEC

History and some

figures

1

60s

The establishment

70s

Oil crisis80s

Oil glut90s

War response

7 giant oil “sisters” were in control of oil production

60s

70sOil crisis of 1973In response to war in

Israel Arab countries

proclaimed oil embargo

45%*

*share in world oil production**price per barrel

10$**

80s1980s oil glutSurplus in crude oil

caused by falling demand

after energy crisis

35%*

*share in world oil production**price per barrel

25$**

90sThe days of warIraq began campaign

against Kuwait, that led

to growth in oil prices

40%*

*share in world oil production**price per barrel

25$**

Problems of OPEC

Problems of OPEC

History and some

figures

Current members

Quotes system

OPEC today

2

Saudi Arabia

2nd*

1960**

Iran

4th

1960

* Position in world oil production** The year of jointment

UAE

8th

1967

Kuwait

10th

1960

Venezuela

11th

1960

12th

1960

Iraq

The rest 6 countries are: Nigeria, Qatar, Libya, Ecuador, Angola, and Algeria

Current members

29,591 bar/day

SA30%

Iran13%

Kuwait, UAE17%

Nigeria8,1%Rest 6

38,9%

Quotas system

Problems of OPEC

History and some

figures

OPEC today

3

History and some

figures

OPEC today

Problems of OPEC

3

Different development

levels within OPEC

High social tension in

some countries