Importance and Influence of OPEC
Introduction
Organization of Petroleum Exporting Countries (OPEC) is an international organization of petroleum producer and exporter nations. Currently the organization has a share of forty percent in the international oil market and substantially impacts the market by reducing or increasing production and prices of crude oil. OPEC sets annual targets of production of crude oil for its members every year. OPEC ensures smooth supply of petroleum to consumers and at the same time, it also procures the monetary interests of petroleum producing countries. OPEC also has a responsibility towards investors who invest in the ventures of OPEC in different
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