OPEC Decisions

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• Organisation
• Petroleum
• Exporting
• Countries

15 member countries

• Algeria
• Angola
• Congo
• Equatorial Guinea
• Gabon
• Iran
• Iraq
• Kuwait
• Libya
• Nigeria
• Saudi Arabia
• United Arab Emirates
• Venezuela

Don’t always agree More like a central bank of oil about 1/3 of global supply and aren’t a monopoly don’t target prices, but do target inventories

Two meetings per year

Meet behind closed doors in Vienna to try agree on policies that will satisfy all of them.