History of OPEC

	Revision 8 . . (edit) July 17, 2001 9:30 pm by (logged).177.68.xxx
	Revision 7 . . (edit) July 4, 2001 11:35 pm by WojPob
	Revision 5 . . (edit) April 4, 2001 12:26 am by (logged).207.223.xxx

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Difference (from prior major revision) (minor diff, author diff)

Changed: 3c3

OPEC decissions have a large influence on world price of oil. A good example of this in action was the [oil crisis]? in the 1970s. The OPEC tries to control the world oil price through setting quotas for its members, which are raised when the oil prize is high, and lowered when it is low. The policy has been successfull in the past, causing the prizes of oil to rise to levels that otherwise are not reached by raw materials, but only by industry products.

OPEC decisions have a large influence on world price of oil. A good example of this in action was the [oil crisis]? in the 1970s. The OPEC tries to control the world oil price through setting quotas for its members, which are raised when the oil prize is high, and lowered when it is low. The policy has been successfull in the past, causing the prizes of oil to rise to levels that otherwise are not reached by raw materials, but only by industry products.

Changed: 11c11

* Lybia? - North Africa

* Libya - North Africa

Added: 19a20

see also petroleum