What Exactly Does OPEC Do That Affects Oil Prices?
The Organization of the Petroleum Exporting Countries usually stays silent on oil fluctuations, but its market influence is deeply rooted.
The Organization of the Petroleum Exporting Countries is unable to control the supply of oil globally amid the ongoing and escalating aggression of Ukraine by Russia, said OPEC’s secretary general Mohammad Barkindo on Monday.
The members of OPEC are Saudi Arabia, Iran, Gabon, Algeria, Iraq, Kuwait, Libya, Nigeria, the Republic of the Congo, Angola, the United Arab Emirates, Venezuela and Equatorial Guinea.
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