Understanding the Role and Impact of OPEC in the Global Oil Market
Words: 695 1347Within the intricate fabric of global economic dynamics, few entities wield the profound influence held by the Organization of the Petroleum Exporting Countries (OPEC). Established in 1960, OPEC unites a coalition of 13 member nations, each pivotal in the production and export of crude oil. Its footprint on the global oil market is undeniable, sculpting prices, supply dynamics, and geopolitical landscapes. To truly grasp the essence of OPEC's role and impact, one must embark on a deep exploration of contemporary […]