24.03.2011 - OPEC: Beginning of the end?
The recent uprising in North Africa and the Middle East (MENA) region, which culminated in an UN sanctioned military acton against Libya, suggests that the eventual break-up of the 'Organization of the Petroleum Exporting Countries' (OPEC) could be near. OPEC is an organization consists of twelve oil exporting countries, namely, Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela . The organization is considered a cartel, while some are more progressive than others, the majority of OPEC members are governed by essentially autocratic system of governments..............................................Full Article: Source
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