Short Answer Describing OPEC And Its Impact On The World Affairs?


2 Answers

Alishan Samdani Profile
Alishan Samdani answered
OPEC stands for Organization of the Petroleum Exporting Countries. It is a cartel between various countries that hold regular meetings in Vienna, where the headquarters is established. All the oil ministers of the member countries sit there and decide the import, export and price issues of oil in the world. To get detailed information and the names of the member countries please visit the following link.
Arsalan Maqbool Profile
Arsalan Maqbool answered
OPEC is an organization for oil rich countries like Iran,Iraq,Libya and other Arab countries also Venezuela.Its biggest impact on world affairs was when Sadam Hussain urged fellow Arab countries of this organization to up the prices of oil to lower their debts.

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