OPEC by Dave John https://padlet.com/david_john/71ih1htbak0c en-us 2018-01-23 20:16:23 UTC 2018-01-26 14:08:58 UTC hello@padlet.com Organization of Petroleum Exporting Countries bridgitmcg6421 https://padlet.com/david_john/71ih1htbak0c/wish/225034779 2018-01-26 13:37:36 UTC https://padlet.com/david_john/71ih1htbak0c/wish/225034779 The Organization of Petroleum Exporting Countries jennyjac4103 https://padlet.com/david_john/71ih1htbak0c/wish/225034886 2018-01-26 13:37:55 UTC https://padlet.com/david_john/71ih1htbak0c/wish/225034886 Algeria, Angola, Ecuador, Gabon, and Indonesia bridgitmcg6421 https://padlet.com/david_john/71ih1htbak0c/wish/225035221 2018-01-26 13:38:52 UTC https://padlet.com/david_john/71ih1htbak0c/wish/225035221 Iran, Iraq, Saudi Arabia, Kuwait, and Libya trentlap4876 https://padlet.com/david_john/71ih1htbak0c/wish/225035264 2018-01-26 13:39:01 UTC https://padlet.com/david_john/71ih1htbak0c/wish/225035264 Iran, Iraq, Nigeria, Venezuela, United Arab Emirates jennyjac4103 https://padlet.com/david_john/71ih1htbak0c/wish/225035484 2018-01-26 13:39:19 UTC https://padlet.com/david_john/71ih1htbak0c/wish/225035484 It keeps prices stable. Makes sure that each country participating gets a good price for their oil. bridgitmcg6421 https://padlet.com/david_john/71ih1htbak0c/wish/225035536 2018-01-26 13:39:27 UTC https://padlet.com/david_john/71ih1htbak0c/wish/225035536 Organization of Petroleum Exporting Countries trentlap4876 https://padlet.com/david_john/71ih1htbak0c/wish/225035669 2018-01-26 13:39:49 UTC https://padlet.com/david_john/71ih1htbak0c/wish/225035669 The purpose of this organization is to keep world prices of oil stable, to reduce oil price, and adjust the world's oil supply when it comes to shortage. jennyjac4103 https://padlet.com/david_john/71ih1htbak0c/wish/225036224 2018-01-26 13:41:06 UTC https://padlet.com/david_john/71ih1htbak0c/wish/225036224 Libya, United Arab Emirates, Venezuela, Qatar, Gabon aneeshamat5412 https://padlet.com/david_john/71ih1htbak0c/wish/225036334 2018-01-26 13:41:14 UTC https://padlet.com/david_john/71ih1htbak0c/wish/225036334 Ensures oil prices never become to high nor too low around the world. Keeps the price stable trentlap4876 https://padlet.com/david_john/71ih1htbak0c/wish/225036524 2018-01-26 13:41:38 UTC https://padlet.com/david_john/71ih1htbak0c/wish/225036524 Organizing of Petroleum Exporting Countries ninapar3795 https://padlet.com/david_john/71ih1htbak0c/wish/225036720

]]> 2018-01-26 13:42:05 UTC https://padlet.com/david_john/71ih1htbak0c/wish/225036720 Libya, Iran, Saudi Arabia, Indonesia, Nigeria ninapar3795 https://padlet.com/david_john/71ih1htbak0c/wish/225036976 2018-01-26 13:42:36 UTC https://padlet.com/david_john/71ih1htbak0c/wish/225036976 The Organization of Petroleum Exporting Countries https://padlet.com/david_john/71ih1htbak0c/wish/225037258 2018-01-26 13:43:13 UTC https://padlet.com/david_john/71ih1htbak0c/wish/225037258 bridgitmcg6421 https://padlet.com/david_john/71ih1htbak0c/wish/225037361 Due to fracking, they are losing control over the production and sale price of oil. They don't have the same power as they used to]]> 2018-01-26 13:43:29 UTC https://padlet.com/david_john/71ih1htbak0c/wish/225037361 It is beginning to cut production as other countries such as the USA and Russia are surpassing them in oil production. They are also losing control over oil prices. trentlap4876 https://padlet.com/david_john/71ih1htbak0c/wish/225037524 2018-01-26 13:43:51 UTC https://padlet.com/david_john/71ih1htbak0c/wish/225037524 The economy ninapar3795 https://padlet.com/david_john/71ih1htbak0c/wish/225037582 2018-01-26 13:43:58 UTC https://padlet.com/david_john/71ih1htbak0c/wish/225037582 bridgitmcg6421 https://padlet.com/david_john/71ih1htbak0c/wish/225037914 Economic/Political]]> 2018-01-26 13:44:27 UTC https://padlet.com/david_john/71ih1htbak0c/wish/225037914 Economic because OPEC uses a concept of supply and demand, so its oil prices are high. https://padlet.com/david_john/71ih1htbak0c/wish/225038428 2018-01-26 13:45:31 UTC https://padlet.com/david_john/71ih1htbak0c/wish/225038428 They are staring to lose control over the worlds oil prices because other countries are getting involved ninapar3795 https://padlet.com/david_john/71ih1htbak0c/wish/225038787 2018-01-26 13:46:23 UTC https://padlet.com/david_john/71ih1htbak0c/wish/225038787 There is lots of competition, so members of OPEC let the cost of their oil drop https://padlet.com/david_john/71ih1htbak0c/wish/225040319 2018-01-26 13:49:33 UTC https://padlet.com/david_john/71ih1htbak0c/wish/225040319 jennyjac4103 https://padlet.com/david_john/71ih1htbak0c/wish/225043631 Fracking changed oil markets globally and Opec cartel doesn't have the same old power to control the oil prices.]]> 2018-01-26 13:56:35 UTC https://padlet.com/david_john/71ih1htbak0c/wish/225043631 bridgitmcg6421 https://padlet.com/david_john/71ih1htbak0c/wish/225049529 2018-01-26 14:08:58 UTC https://padlet.com/david_john/71ih1htbak0c/wish/225049529