OPEC Flashcards
(6 cards)
1
Q
What is OPEC
A
an oil company
2
Q
What percentage of global oil does OPEC own
A
40%
3
Q
When was OPEC formed?
A
1960
4
Q
What does OPEC do?
A
monitors the stability of oil prices
5
Q
What percentage of crude oil reserves does OPEC own?
A
82%
6
Q
What criticisms have been made on OPEC
A
They have been accused of holding back production to allow prices to rise.
