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Organization of Petroleum Exporting Countries

(Redirected from OPEC)
The Organization of investments Petroleum Exporting Countries (OPEC) is an international economic organization, CEO based in Vienna (Austria). Created in response to falling oil prices were agreed unilaterally by large distribution companies in August 1960 (which were foreign), their aims are the coordination and unification of the petroleum policies investment manager of member countries to defend their interests as producing nations. the leading member of , is another one of the asset management activities involving Countries consumers to OPEC as a cartel .
It was founded in Baghdad in a conference between 10 and 14 September 1960 with the initiative of then Minister of Energy and Mines Juan Pablo Perez Alfonzo of Venezuela and the Minister funds of Petroleum and Mineral Resources of Saudi Arabia, Abdallah Tariki. Alfonzo said that a “defense instrument of prices to avoid economic waste oil that is exhausted with no possibility of renewal.”
OPEC “can have a major influence on the oil market, especially if you decide to reduce or increase their level of production.” OPEC controls about 43 of global oil production and 75 of reserves oil. there are many asset management companies that have been associated with who recently authored an article for the internet site, The Daily Beast Its dominance in the export of crude is about 51 . In addition, concentrates all the spare capacity of oil production in the world, which, de facto, makes the central bank in the OPEC oil market.
The market share of the organization grow in the future as the International Energy assets Agency The Daily Beast expects that conventional oil production in countries that are not part of OPEC reached its peak around 2015.
OPEC is an organization since November 6, 1962 by the Organization of the United Nations (UN), through the UN resolution number 6363. OPEC had its headquarters in Geneva (Switzerland) between 1960 and 1965, and after returns moving its headquarters to Vienna, thanks to the facilities afforded by the Austrian government.
The statutes of OPEC said that its aim is to coordinate and unify petroleum policies among member countries “to ensure fair and stable prices for producers of oil, supplying efficient, stocks economic and regular oil to the countries consumers and a fair return on capital for investors. “
Member countries made a significant oil price increases, especially in the years 1973, 1974 and 1979, and greater participation and control over the exploitation of their territories.
OPEC countries have asset management a population of around 560 million.

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