A brief presentation of OPEC, including 1. History of organization 2. OPEC today (members and quotas) 3. Problems of OPEC

1. OPECThe Organization of
the Petroleum
Exporting Countries

2. Plan History and
some
figures
OPEC
todayProblems
of OPEC
Problems of
OPEC

3. OPEC
todayProblems
of OPEC
Problems of
OPEC
History and
some
figures
1
60s
The
establishment
70s
Oil crisis
80s
Oil glut
90s
War response

4. 7 giant oil “sisters”
were in control of oil production
60s

5. 70s
Oil crisis of
1973
In response to war in
Israel Arab countries
proclaimed oil embargo
45%*
*share in world oil production
**price per barrel
10$**

6. 80s
1980s oil
glut
Surplus in crude oil
caused by falling demand
after energy crisis
35%*
*share in world oil production
**price per barrel
25$**

7. 90s
The days of
war
Iraq began campaign
against Kuwait, that led
to growth in oil prices
40%*
*share in world oil production
**price per barrel
25$**

8. Problems
of OPEC
Problems of
OPEC
History and
some
figures
Current
members
Quotes
system
OPEC
today
2

9. 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

10. 29,591
bar/day
SA
30%
Iran
13%
Kuwait,
UAE
17%
Nigeria
8,1%Rest 6
38,9%
Quotas system

11. Problems of
OPEC
History and
some
figures
OPEC
today
3

12. History and
some
figures
OPEC
today
Problems of
OPEC
3
Different development
levels within OPEC
High social tension in
some countries