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The countries of Iraq, Kuwait, Iran, Saudi Arabia, and Venezuela founded OPEC in September of 1960. Venezuela is the only founding country that isn't Middle Eastern.
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How did OPEC increase the power of the middle eastern nations?
As world demand for oil rose,OPEC's power increased.During the 1970s,the middle eastern members showed how the power could be used.In 1973,Arab nations were at war with Israel.Using oil as a political weapon,OPEC stopped oil shipments from the Middle East to countries that support Israel.
Where are the OPEC Nations located?
in the middle east
What is the name of the organization that controls oil production in the middle east?
Organization of Petroleum Exporting Countries (OPEC)
What determines the fuel price?
The OPEC decides mainly, because they control the oil, OPEC is all of the middle eastern countries that have oil and export it
What have been the goals of southwest Asian OPEC members?
their goal is to have a steady supply of oil flowing out of their countries.
What monopoly was formed by oil-producing nations of the middle east to control the supply and price of oil?
OPEC
Where does US buy it's oil?
The United States typically buy's their oil from OPEC. OPEC is the company that handles the price, and sale of Oil for middle eastern countries.
Is China a member of OPEC?
No, China is not a member of OPEC (Organization of the Petroleum Exporting Countries). OPEC consists of Middle Eastern, African, and South American countries that are major oil producers and exporters, whereas China is one of the world's largest oil consumers and importers.
Does the Middle East have OPEC?
They have six major OPEC oil producers
Which Latin American nations are members of OPEC?
Venezuela and Ecuador are the only OPEC members in Latin America.
Group composed of oil-exporting nations?
OPEC
What Group composed of oil-exporting nations?
OPEC
