The impact of political decisions on OPEC countries

Abstract

OPEC continued its efforts to strengthen and stabilize the global oil market in the 2000. Increasing market volatility and the collapse of the global financial sector have unfortunately led to an economic recession. The Organization then began to support the oil sector to address the crisis. The purpose of this article is to provide an explanation from the Organization of Petroleum Exporting Countries. To begin with, we will give some general information on this organization and with the help of statistical data we will give an analysis of the evolution of the price of oil correlatively with the events which marked the oil industry which will enable us to see that the principle of supply and demand is respected in the form, because oil prices fluctuate with supply and demand levels.

Keywords

• OPEC
• Global Production
• Oil reserves
• Oil production