31.07.2013 - OPEC fast facts
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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