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OPEC fast facts

Posted on 31 July 2013

The purpose of OPEC for members is to “co-ordinate and unify their petroleum policies in order to promote harmony and stability in the oil market.” OPEC members collectively supply about 40% of the world’s oil supply.
Together, OPEC members control about 75% of the world’s total proven crude reserves. OPEC member countries monitor the market and decide collectively to raise or lower oil production in order to maintain stable prices and supply………………………………………..Full Article: Source


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