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OPEC - PowerPoint PPT Presentation


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OPEC. Think about … in all the world, which country do you think consumes the MOST oil?. NOTE … is there oil in Israel?. Where do you think most of the world’s oil is located?. Therefore, where do you think the US gets most of it’s oil?. In 1960, OPEC was formed! What is OPEC?. OPEC.

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Presentation Transcript
slide3
NOTE … is there oil in Israel?

Where do you think most of the world’s oil is located?

slide5
In 1960, OPEC

was formed!

What is OPEC?

OPEC

what is opec
What is OPEC?
  • Organization of
  • Petroleum
  • Exporting
  • Countries
slide7
Based on your knowledge of the Middle East and what you just learned about oil deposits, which countries do you think are members of OPEC?
ponder why would these countries unite and form this organization
Ponder … why would these countries unite and form this organization?
  • Think about …
    • What would be their motivation? Their purpose?
    • What would they gain?
why was opec formed
Why was OPEC formed?
  • To protect the interests of the oil-producing countries.
    • OPEC allows these oil-producing countries to set prices for the crude oil
    • By taking COMPETITION out of the market, they can get whatever price they want!
who were the original members
Who were the original members?
  • Iran
  • Iraq
  • Kuwait
  • Saudi Arabia
  • Venezuela
who are members of opec today
Who are members of OPEC today?
  • The original 5 plus
    • Algeria
    • Angola
    • Indonesia
    • Libya
    • Nigeria
    • Qatar
    • UAE
just a few more facts
Just a few more facts …
  • 2/3’s of the world’s oil belongs to OPEC members!
  • OPEC members own ½ of the world’s exported oil!
slide15
OPE

C

What is OPEC?

Are your notes correct?

Great! Let’s go to our assignment!

When did it begin?

Who were the original 5 members?

Why?

(For what purpose was OPEC formed?)

your turn
Your turn …
  • Writing assignment -
    • If you were an oil-producing country, would you join OPEC? Why? EXPLAIN your answer! Think about … what would be the benefits of joining this organization? What would be the disadvantages if you did NOT join this organization?
slide17
OPE

C

What is OPEC?

When did it begin?

Who were the original 5 members?

Why?

(For what purpose was OPEC formed?)

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