The purpose of opec, the organization of petroleum exporting countries, is to

2 answers:

7 0

The purpose of Opec is to <span>stabilize the price of oil and ensure a regular supply of oil to other countries.
In order to do this, each oil suppliers that became the member of OPEC will put a similar price on the oil products they sell to other countries and put a maximum quota on how much oil each member could sell within an accounting period.</span>

pochemuha2 years ago

6 0

<span>OPEC's official purpose, as quoted directly from its charter, is to "coordinate and unify the petroleum policies of its member countries and ensure the stabilization of oil markets, in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers, and a fair return on capital for those investing in the petroleum industry." As such, it is an intergovernmental body whose members work together to coordinate petroleum outputs to the world market. However, since the members represent such a large part of world production, critics argue that OPEC in fact constitutes a cartel with market manipulation powers.</span>

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