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You will prepare and submit a term paper on Organization of Petroleum Exporting Countries. Your paper should be a minimum of 4250 words in length.
You will prepare and submit a term paper on Organization of Petroleum Exporting Countries. Your paper should be a minimum of 4250 words in length. The researcher states that in the present day, OPEC has member states adding up to twelve. Even though OPEC came into existence in 1960, it did not have control over oil prices and production until the year 1973. OPEC was then able to make decisions concerning oil production unlike in the past when the production of oil was at the discretion of oil companies. By deciding on the amount of oil to produce, OPEC determines oil revenue and controls oil export-related tariffs. OPEC set the standard pricing policy during the 1970s by using the crude oil prices from Saidi Arabia, being the leader in the market. All member states of OPEC followed the Saudi pricing standard. This design paper is a detailed study concerning the challenges that OPEC has had to deal with in the past as well as in the current state. It covers the issues related to OPEC formation and management, and the mandate of OPEC in relation to international policies, and the real influence of OPEC in the global oil market. Lastly, this paper will deal with the strategies of OPEC in mitigating the present variations of oil production capacities among the non-member states such as Brazil and United States of America. It has appeared that the oil fields for OPEC states have been on the decline. This paper will mainly focus on the research problems and appropriate solutions to the hypothesis on the current OPEC position and future emerging challenges facing OPEC states. In the broader picture, the paper will discuss the effects and nature of the international relationship policies and including trade barriers among the OPEC member states. It will involve the use of primary data as well as reviews of secondary information from external sources such as periodical journals. This paper is interested in using the review and study of the event as a method to facilitate the impact of the study of the behavior of crude oil prices in the global dynamic oil market.
