Wrap+Up

​ CONCLUSION

OPEC consists of twelve countries that share the common goal of controlling the oil market and making fair prices for member and distributing petroleum to countries who need it. OPEC banded together to make the price of their oil higher and to gain a profit. This coalition has far reaching impacts from environmental concerns to a major say in oil prices which, believe it or not, affects you and I everyday. The world is slowly changing and OPEC is losing it's grip on the oil market because of other countries finding their own resources. I think that if OPEC wants to stay in business, they must adapt to the global market of today. Also, there are many other ways to break OPEC's stronghold of oil. For example fuel efficient cars reduce our need for oil, making OPEC that much weaker. These changes may take time, but I believe they could happen. Many people think of OPEC as a cartel with an iron grip over prices, and that may be true, but there is some data that suggests otherwise. I suggest that you formulate an opinion on OPEC for yourself based on this presentation and other sources.