0
Add your answer:
Earn +20 pts
Why should US citizens be interested in the actions of OPEC?
OPEC influences the price and availability of oil and gas.
What impact can OPEC decisions have on the world?
The roe of OPEC is to regulate the petroleum industries among member countries. OPEC stands for Organization of the Petroleum Exporting Countries.
How would OPEC nation feel about the rising cost of petroleum?
OPEC would never trade with the country that rose the price of petroleum.
What is the difference between BP to OPEC?
BP is simply an Oil producing firm whilst OPEC is a trade bloc/ organisation which regulates the production of oil within 12 countries
The US trade deficit first became a problem in the 1970s because .?
The price of foreign oil was raised by OPEC.
What body of water is closest to OPEC?
OPEC is a worldwide consortium of oil exporting countries - there isn't one country or region which defines OPEC.
Why should US citizens be interested in the actions of OPEC?
OPEC influences the price and availability of oil and gas.
What impact can OPEC decisions have on the world?
The roe of OPEC is to regulate the petroleum industries among member countries. OPEC stands for Organization of the Petroleum Exporting Countries.
What are 2 major trade alliences?
OPEC and NAFTA.
How would OPEC nation feel about the rising cost of petroleum?
OPEC would never trade with the country that rose the price of petroleum.
What is the difference between BP to OPEC?
BP is simply an Oil producing firm whilst OPEC is a trade bloc/ organisation which regulates the production of oil within 12 countries
What describes a difference between OPEC and the WTO?
One key difference between OPEC (Organization of the Petroleum Exporting Countries) and the WTO (World Trade Organization) is their primary focus. OPEC aims to coordinate and unify petroleum policies among member countries to stabilize oil markets, while the WTO focuses on regulating international trade and resolving trade disputes. Additionally, OPEC is a voluntary organization composed of oil-producing countries, while the WTO is a global institution with a broader membership that includes most countries in the world.
What action did OPEC take in 1973 against the US and what impact did it have on the American economy?
The 1973 Oil Crisis.
What is the role of OPEC?
The role of the Organization of the Petroleum Exporting Countries is to make the process of trading oil between countries who belong to OPEC easier. They help organize and regulate trade in a consistent manner.
The US trade deficit first became a problem in the 1970s because .?
The price of foreign oil was raised by OPEC.
What happens when OPEC increases the productio?
When OPEC increases production, it can lead to a decrease in oil prices due to the increase in supply on the market. This can benefit consumers as they may see lower prices at the gas pump, but it can also impact oil-producing countries' revenues and profits. Additionally, increased production by OPEC can impact the global oil market dynamics and influence other oil-producing countries' production decisions.
Who owns OPEC?
opec
